The Conference Board’s April 28 release showed that adults under 35 are the only group with rising confidence. If you're looking for some optimism for multifamily, this provides a promising outlook for the sector’s vital demographic, even as they balance challenges in the labor market and an uptick in inflation. 

However, this optimism faces a "white-collar cooling" in the job market driven by AI according to a recent article by The Wall Street Journal. While Q1 private-sector layoffs fell 1% overall, tech-specific cuts surged 40% in Q1 2026 as firms pivoted toward automation. The following details are for all role types, not just tech. 

Layoffs by the Numbers: 

• AI Restructuring: Meta (8,000 roles) and Snap (16% of staff) are cutting jobs specifically to fund AI infrastructure.
• High-Earner Impact: Significant April cuts at Nike, Morgan Stanley, and Disney (5,675 combined) target roles spanning technology, marketing, management, and operations. 
• Largest Cuts: The sheer volume of cuts from giants like Oracle (projected 30,000) and UPS (30,000) signals a deep "right-sizing" of corporate operations nationwide. 

While resilient sentiment among younger renters supports steady renewal rates, the concentration of massive AI-driven layoffs in tech and corporate sectors creates a significant headwind for new-lease absorption. It also casts doubt on a strong surge in the labor market in time to benefit this leasing season for multifamily. 

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