【CBRE】Economic Watch: December Job Growth Far Exceeds Expectations

• The U.S. added 256,000 jobs in December, far exceeding expectations of 155,000. Job gains in October and November were revised down by a total of 8,000.
• Job growth in December was largely in health care, leisure & hospitality and government.
• The unemployment rate fell slightly to 4.1%, while the labor force participation rate remained unchanged at 62.5%. Average hourly earnings rose by 3.9% year-over-year.
• The 10-year Treasury yield jumped to 4.75% earlier today and likely will remain above 4% throughout 2025. We still expect a continued recovery in commercial real estate investment activity.

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