TAG Industrial Watch: September 14, 2024
Last week’s release of the August jobs report came in less than expected with only 142,000 new jobs created. Given that the headline jobs number has become accustomed to being revised lower in subsequent reports, more attention is being paid to the bottom line of each report. For example, the June jobs number was initially reported at a welcoming 206,000, however since then, that figure has twice been revised lower to just 118,000. To understand where your local industrial real estate market is headed and to see new trends forming, investors should take a closer look at the jobs that directly impact industrial demand. Operating on a one-month delay, the Bureau of Labor Statistics publishes an industry breakdown of jobs for each metro in the U.S. Included in each metro report are jobs in manufacturing, mining and logging, construction, and trade, transportation, and utilities. Using Chicago as an example, trade, transportation, and utilities experienced a loss of 3,300 jobs but manufacturing picked up 11,800 jobs in July year-over-year (BLS). If this trend holds up, investors seeking opportunities in the Chicago market should consider adding manufacturing facilities to their portfolio.
I N D U S T R I A L N E W S
August Payrolls Grew By A Less-Than-Expected 142,000,
But Unemployment Rate Ticked Down To 4.2%
CNBC – September 6, 2024
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US Solar Manufacturing Capacity Has
Quadrupled Thanks To Climate Law
Canary Media – September 9, 2024
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Manufacturing Sector Jobs Dipped In August
The Real Economy Blog – September 6, 2024
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Landlords Face $1.5T Maturity Wall Before 2026
GlobeSt.com – September 4, 2024
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Where Industrial Stands In The Current Cycle
GlobeSt.com – September 3, 2024
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R E G I O N A L N E W S
Trammell Crow-Led JV Starts Work On 1.35M-SF Industrial Park
Connect CRE – September 3, 2024
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Northern Builders Developing 802,440-Square-
Foot Spec Industrial Facility In Joliet
REjournals – September 5, 2024
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Venture One Buys 422 KSF Metro Chicago Industrial Portfolio
Commercial Property Executive – September 5, 2024
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Here Are The Top Bull And Bear CRE Metro Markets
GlobeSt.com – August 29, 2024
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Korean-Based Futronic USA, A Tesla
Supplier, To Build First Facility In Buda
My San Antonio – July 19, 2024
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