Uncertain CRE Job Market ‘Like A Middle School Dance’ — And No One Is Making The First Move

In a recent feature, Carly Glova, founder of Building Careers, provided insights into the 2024 Commercial Real Estate (CRE) job market. Initially poised for a rebound, the industry now grapples with uncertainty as both job seekers and employers exhibit hesitancy amid financial and transactional ambiguity. Despite expectations of a subdued year with limited hiring and lower raises, the sector hasn’t witnessed the anticipated massive layoffs, despite a 50% decrease in transaction volume. Firms seem to be adopting a cautious approach, choosing to weather the storm and maintain a holding pattern instead of implementing significant headcount changes or expansion plans. The prevailing tight labor market and concerns about rising costs in an inflationary environment contribute to an overall reluctance to adhere to traditional hiring practices, creating an atmosphere reminiscent of the aftermath of the Great Financial Crisis.

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