A Note from the Founder 7.7.2025

Zachary Urow August 12, 2025

Job Market Stays Strong as Unemployment Continues to Fall

  • Employers across the U.S. added 147,000 jobs in June, with the labor market remaining resilient despite slowing economic growth this year.
  • The national unemployment rate fell to 4.1%, down from 4.2% in May, and the lowest since February.
  • Layoffs fell by 188,000 in May, with the rate near multi-decade lows.

Home Sales and Mortgage Rates Drop in May

  • Home sales declined by 13.7% in May as buyers weighed loan terms and total homeownership expenses.
  • The average 30-year fixed mortgage rate dropped to 6.68%, a decline from earlier highs above 7%.
  • The Federal Reserve is holding rates steady this summer while monitoring inflation and employment data before deciding on future moves.

Our Thoughts

  • Job growth can help restore consumer confidence and increase demand for self-storage as spending picks up. Reduced layoffs also help maintain stable occupancy as households face fewer financial disruptions.
  • Although high housing costs may cause some to delay moving or downsizing, a continued decline in mortgage rates could encourage more moves and increase occupancy rates.