August Employment Growth Unimpressive – Trepp














“Gravitation cannot be held responsible for people falling in love. How on earth can you explain in terms of chemistry and physics so important a biological phenomenon as first love? Put your hand on a stove for a minute and it seems like an hour. Sit with that special girl for an hour and it seems like a minute. That’s relativity.”

-Albert Einstein





Posted on Wed, Sep 11, 2013   Written by Susan Persin, Managing Director,Trepp

The US added a lackluster 169,000 new jobs during August, and growth for June and July was revised downward by 74,000 jobs. Unemployment of 7.3% in August was down only marginally from 7.4% in July. The numbers were disappointing, and stock market reaction to the news was mixed on Friday the sixth. On one hand, the weak jobs report increased optimism that the Fed will delay the tapering of its bond purchases when it meets in September. Others focused on the weak job growth, the concentration of growth in low paying retail and restaurant jobs, and the lack of real improvement in unemployment.

For the second consecutive month, the trade, transportation, and utility sector led job growth, with 64,000 new jobs, including 44,000 retail trade sector jobs. Within the retail sector, clothing and accessory stores benefited from back to school spending, creating almost 14,000 new jobs. Food and beverage gained 11,700 jobs.

Education and health services gained 43,000 jobs during August, making it the second fastest growing sector of the economy. The new jobs were largely concentrated in health care (+38,300 jobs). Leisure and hospitality sector growth accelerated, with 27,000 new jobs created during August.

Government sector employment gained 17,000 jobs during August. Federal and state government employment were relatively flat, but school budgets in many areas have increased, leading to greater hiring for the new school year that boosted local government employment.

Manufacturing sector job growth totaled 14,000 in August. Most parts of the manufacturing sector neither added or lost a notable number of jobs. However, motor vehicles and parts added 18,800 jobs during the month as manufacturers rehired those that had been temporarily cut in July as factories retooled to changeover production for new vehicles.

Information services and financial activities lost jobs, and the construction and other services sectors of the economy were flat during the month.

Job creation in August fell below expectations, which was disappointing, but it was consistent with expectations of slow economic growth. The ongoing housing market recovery has had a positive impact on the economy, but it has been offset by concerns about higher interest rates and possible US intervention in Syria. Growth will stay slow at best as long as these contradictory forces characterize the economy.



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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.





we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.



  We barely could give land away the last few years, but times are changing.  Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.


If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.


Please reply by e-mail or call me 520-975-5207 (cell)  602-778-5110 (office direct).




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Walter Unger CCIM

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Kasten Long Commercial

2821 E. Camelback Road, Suite 600

Phoenix, AZ 85016

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