Job Growth Impact on Real Estate

U.S. Labor Market Firing on All Cylinders

• Created 2.7M jobs in 2018 – strongest in 3 years

• January added 304K jobs, marking 100 months of continuous job gains

Elevated Optimism & Tax Reform Support Gains

• Small business account for half of jobs in the U.S. – tax reform boosted small business confidence

• Texas – a job creation stalwart; Orlando, Las Vegas and Raleigh delivering impressive growth

Job Creation Supporting All Real Estate Sectors

• Elevated space demand for all commercial real estate

• 2019 jobs outlook and Commercial Real Estate outlook are solid