Hiring by hotels, bars and restaurants behind big July jobs gain – Robert Khodadadian

Robust hiring at hotels, restaurants and bars, as well as in construction and health care, powered an unexpectedly strong jobs increase in July, the government announced Friday. Those industries accounted for 43 percent of the 528,000 gain. The unemployment rate fell to 3.5 percent, according to government data released Friday, despite Federal Reserve actions to cool the economy with higher interest rates. “This is not a picture of an economy in recession,” said chief economist

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Politics, Economy, hospitality, Housing Market, Industrial Real Estate The Real Deal New York Read More