April’s employment data reinforced the view that commercial real estate (CRE)-related hiring remains stable but limited in scope, according to Ryan Severino.
BGO’s legacy commercial real estate employment index remained flat at 99.8 compared with its 2019 baseline, suggesting traditional CRE-related employment has not meaningfully recovered despite overall U.S. job growth.
Healthcare employment remained one of the strongest contributors to CRE demand, with the healthcare-related employment index reaching 117.4 and continuing to support specialized property types. Data centers represented the strongest growth area, with an index reading of 128.3.
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