Anytime an economy begins to crawl out of a recession, it takes some time for the numbers to be consistent in order to make any bold statements. One day it’s good news and then next day, well, not so good news. We saw that last week as various bureaucracies released their monthly reports.

OnQI GDP numbers soft Wednesday, the GDP figure for the first quarter of this year came in at a lukewarm 0.1 percent. And that’s an annualized rate. On Friday however, the two reports that the Fed has said they pay the most attention to showed some promise. With a grain of economic salt of course.

The unemployment rate fell quite nicely from 6.7 percent to 6.3 percent. That’s quite a drop on a month to month basis. Yet another number that has always been reported on but has only recently been pointed out with any effort is the labor participation rate. The labor participation rate is expressed as a percentage and highlights the number of Americans working compared to the overall population. It’s a monthly accounting of those who are and are not in the workforce. For April, the labor participation rate hit a 35 year low at 63.2 percent as more than 800,000 workers dropped out of the workforce entirely. This is not a good number.

On the other hand, the number of non-farm payroll jobs created in April surpassed the expected count of 215,000. The number of new April jobs topped 288,000. That’s getting close to the number needed to begin moving an economy forward on a consistent basis. What does all this mean for real estate investors?

For one, it’s still going to be a mixed bag of reports over the next several months as we continue to crawl out of the recession. Second, borrowing costs will still be low and investors who finance their projects will enjoy lower interest rates at least through the rest of the year.