Not the Lucky number: 7.2%

Employment data was released today, Friday, January 9, 2009. Most people probably are not surprised to hear that unemployment continued to rise through the end of 2008. However, a national unemployment rate at 7.2% represents the highest it has been in 16 years. The unemployment rate in the Triangle is still in the low 6% range, but nonetheless it's higher than just a few months ago. That said, we hear vacancies are starting to increase, prompting owners to lower rents. If you are sitting on a vacancy now is probably not the time to be greedy.