MBA Advocacy Update
On Monday, the U.S. Supreme Court issued its decision in Seila Law LLC v. Consumer Financial Protection Bureau, holding that the Consumer Financial Protection Bureau's single-director structure violates the Constitution’s separation of powers scheme while also ruling that the CFPB can continue to operate.
June Jobs Up Nearly 5 Million; Unemployment Rate Drops; New Claims at 1.4 Million
The Bureau of Labor Statistics reported total nonfarm payroll employment jumped by 4.8 million in June, as easing of coronavirus restrictions brought back more workers who had been laid off earlier this spring.
MBA Chart of the Week: Monthly Payroll Growth and Unemployment Rate
The economy added a record 4.8 million jobs to nonfarm payrolls in June, bringing the cumulative increase in May and June to one-third of the sharp decreases in March and April. Similarly, the June unemployment rate, at 11.1%, was down 3.6% from its high in April, and labor force participation jumped by 0.7% to 61.5% (1.9% below its pre-coronavirus level in February). However, we are not yet out of the woods.
2Q Single-Tenant Net Lease Cap Rates Diverge
Single-tenant net lease cap rates diverged by sector in the second quarter, reported Boulder Group, Wilmette, Ill.
