Labor markets remain in a delicate equilibrium. Hiring rates are low, but so are layoffs. The economy has added more than 140,000 jobs on average over the six months through November. But the unemployment rate has drifted up to 4.2%, from 3.7% at the beginning of the year.

Blackstone has entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho, an acclaimed 2.4 million square feet of mixed-use asset, from affiliates of Seibu Holdings. At $2.6 billion, this marks the largest real estate investment by a foreign investor in Japan and the firm’s largest investment to date across businesses in the market.

Prices for groceries were up 1.6% from a year earlier in November. But they were up 27% from February 2020.

The small-business optimism index jumped in November to its highest reading since June 2021 and the index measuring company plans for capital investment, hiring and sales, rose to the highest level in more than two years in the fourth quarter.

From 2021 to 2023, the share of build-to-rent housing starts doubled to 10% of overall single-family housing.

There are about 1.1 million adults ages 50 and older living with a sibling representing about 1.6% of that age group in 2022, up from about 1.3% in 2012. There are also about 1.9 million adults ages 18 to 29 living with a sibling, about 3.6% of that cohort.

New York City lawmakers are proposing a bill that would walk back some restrictions on hosts of Airbnb properties and other short-term rentals. If enacted, the bill could meaningfully boost listings, which dwindled to about 3,700 last month, compared with nearly 23,000 in January 2023.

The dollar still accounts for 58% of global foreign exchange reserves, 54% of export invoicing, and 88% of foreign exchange transactions.

Wells Fargo will sell its headquarters office at 420 Montgomery St. in San Francisco’s Financial District. The sale would cement a yearslong shift by Wells Fargo away from San Francisco, with its senior leadership now largely based in New York or Charlotte, N.C.

For 2024, U.S. RevPAR is expected to increase by 1.4% to $99.57, driven by ADR growth of 1.6% to $158.53 while occupancy declines 0.3% to 62.8%. The forecast for 2025 U.S. RevPAR projects an increase of 2.7% to $102.29, driven by ADR growth of 2.7% to $162.85 while occupancy remains at 62.8%.