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June 2025 Employment Report: Labor Holds, Rate Relief Uncertain, CRE Stirs

Employers added 139,000 jobs in May — the second-highest monthly gain this year. While hiring has slowed from 2024 averages, labor demand remains steady, and signs of renewed CRE transaction activity are beginning to emerge. With a Federal Reserve rate cut now likely delayed, borrowers are increasingly focused on short-term financing strategies while rates hold.

🔹 139K jobs added in May 🔹 Interest rate relief still uncertain 🔹 Retail vacancy just 20 bps above record low

Labor demand holds. CRE markets stirring.





June 2025 Employment Report Graphic with Retail and Labor Highlights





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