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US Metro Employment (Apr.)

Total employment growth reached a solid 0.7% 3m/3m on average in April for the second consecutive month, led by Boston, Las Vegas, Charlotte and Orlando. But for office-based jobs, the poor performance of the information sector continued, with nearly half of the 30 metros seeing outright job losses. We expect further weakness in the coming months in those metros with high exposure to tech, particularly in the West.

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