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May 2025 Employment Report: CRE Trends Shaped by Jobs and Trade Shifts

The May 2025 Employment Report CRE Trends indicate ongoing labor market strength and emerging shifts in commercial real estate demand, particularly across industrial and retail sectors

  • Labor Market: 177K jobs added in April, led by healthcare and social services

  • Industrial: Tariff shifts drive demand from West Coast ports to inland and East Coast hubs

  • Retail: Higher import costs support brick-and-mortar shopping and local space needs







May 2025 Employment Report CRE Trends Graphic







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