The Job Market Is Cracking – Here’s What It Means for Real Estate
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 1 April 2025
⏱️ 51 minutes
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Summary
The job market is showing signs of weakness, with rising unemployment and underemployment affecting consumer confidence and real estate trends. Ken McElroy and Danille discuss how AI, inflation, regional instability, and government policy are reshaping the housing market—and what investors need to watch out for in 2025.
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | People are starting to get worried about something they haven't worried about in a while. |
| 0:06.5 | And that is their job. |
| 0:08.2 | Yeah. |
| 0:08.5 | Well, I think there's all kinds of articles about this. |
| 0:11.0 | Obviously, everybody knows about Doge, right? |
| 0:13.6 | And I think I read there's about 75,000 people that actually retired, I guess, or took the buyout. And then there's like another |
| 0:22.8 | 170 some thousand coming. But other than that, I think we're starting to see inflation hit |
| 0:29.6 | the employer. And the employers are starting to take a look at their bottom lines. And so things |
| 0:35.8 | are changing a little bit right now. It is. You know, |
| 0:38.7 | labor force participation rate decreased to 62.4 percent. And that's the lowest level since |
| 0:46.3 | January of 2023. And remember in January 2020, everyone was still getting their stim money, |
| 0:51.8 | right? So if they weren't working, you know, they were getting |
| 0:54.2 | stimulus money. So that's something to take into consideration. Yeah. So what that means on the other |
| 1:00.9 | side of that is that there's 37% roughly that are not participating in the labor force. Now that could be by |
| 1:08.9 | choice. It could be. Yeah. I think it's important that when we look at these unemployment numbers right now, we're |
| 1:15.0 | at 4.1. |
| 1:16.5 | And while that's up from 37, I think it's important to understand the difference between what, |
| 1:22.6 | you know, we've talked about this before, U3 versus U6. |
| 1:25.5 | So, Jerry, could you put that chart up real quick because i think u6 is a better |
| 1:30.8 | uh chart now let's take a look on the left side you can see the u3 rate that's the one that you're |
| 1:36.6 | going to see in the media on the u6 this is the one that i think you should also just keep your eye on. |
| 1:44.3 | And oddly enough, this was, we could only find the chart through January. |
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