In March U.S. employment by 80,000 jobs, the third straight month of declining employment. That is the longest period employment has fallen since 2003. Unemployment also jumped to 5.1%, its highest level since 2005. Low employment decreases the shares of office REITs in two ways. First, when companies have less employees they need less space to house them, decreasing demand for office space. Second and more importantly, job losses signal an economic contraction, which lowers the demand for and rents tenants are willing to pay on office space. During contractions companies try to save money, cutting back on office. For more information see:http://money.cnn.com/2008/04/04/news/economy/jobs_march/
