Category Archives: Employment Update

Life sciences poised for rapid growth in NYC

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New York City is emerging as a leading destination for biotech startups and the larger life sciences industry. As illustrated in our New York research Snapshot chart this week, New York City now ranks second in life sciences funding from the National Institutes of Health (NIH), receiving $1.63 billion in 2016 (see chart below).

The Bureau of Labor Statistics estimates that more than 1,000 life sciences companies are located in the New York metropolitan area, with… Read More

Cracking the hardest code

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JLL’s technology report “Cracking the hardest code: Where to find tech talent?” is an interesting and thought-provoking piece.  Given the growing concentration of talent in software development and computer programming in tertiary markets like Albany, NY and Columbus, OH (among other surprising locations), will technology companies continue to pay sky-high office rents in Manhattan?

Ponder this: according to JLL Research, TAMI industry office-using employment, largely driven by technology companies, has increased by nearly 29% since… Read More

NYC captures bulk of state’s private sector job growth

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JLL New York Chart of the Week

COW_New York_May 7_V7

  • Of the 655,000 private sector jobs created in the state from 2004 to 2014, NYC accounted for 89.0 percent of net gains – making it an integral part of the state’s economy.
  • In 2014, 46.5 percent of the state’s private sector jobs were in NYC, up from
  • Read More

Positive Y-o-Y employment gains posted by most sectors in February

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NYC Office Employment Update: March 2015

Employment_blogRead JLL New York’s employment update: a monthly snapshot covering key employment statistics and trends and the subsequent commercial real estate implications.

Highlights from the March update include:

  • New York City’s economy added 13,300 new jobs from January to February, pushing total employment to 4,166,400 payrolls.
  • At 6.6 percent, February’s unemployment rate was 1.6 percentage points lower than one year prior.
  • With the exception
  • Read More

NYC unemployment rate at post-recession low

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NYC Office Employment Update: January 2015

Employment_blogJLL’s monthly office employment update covers key employment statistics and trends, and the subsequent implications for real estate.

Highlights from the January update include:

  • The city’s unemployment rate remained at 6.3 percent in December, a post-recession low.
  • NYC employment ended 2014 on a new high, reaching 4,102,000 payrolls in December.
  • Professional & business services led job growth, adding 30,700 jobs in the last 12
  • Read More

Seven of the 11 major sectors post year-over-year job gains in NYC

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NYC Office Employment Update: December 2014

Employment_blogJLL’s monthly office employment update covers key employment statistics and trends, and the subsequent implications for real estate.

Highlights from the December update include:

  • In November, the city’s unemployment rate continued to decline, inching to 6.3 percent from 6.4 percent in October
  • With seasonal adjustments, NYC employment remained relatively flat in November, posting an estimated 4,083,000 payrolls
  • Education & health services led employment gains, almost doubling
  • Read More

Employment: Many industries are reaping the benefits of improving market fundamentals

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NYC Office Employment Update: September 2014

Employment_blogJLL’s monthly office employment update covers key employment statistics and trends, and the subsequent implications for real estate.

Highlights from the September update include:

  • The city’s unemployment rate fell to 7.3 percent in August from 7.8 in July, the lowest level since 2008.
  • Employment, however, increased marginally by 4,700 payrolls in August when seasonally adjusted, indicative of the summer slowdown.
  • The private sector
  • Read More

NYC employment continues to set new records

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NYC Office Employment Update: August 2014

Employment_blogJLL’s monthly office employment update covers key employment statistics and trends, and the subsequent implications for real estate.

Highlights from the August update include:

  • NYC employment increased by 12,900 payrolls in June when seasonally adjusted.
  • Private sector employment grew by 2.8 percent, representing a significantly larger than usual gain.
  • The NYC unemployment rate lingered at 7.7 percent in June.

Explore the full report for further trends… Read More

July uptick in tech sector leasing activity

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JLL NYC Research: August Tech Monthly

High-tech_blogJLL’s Tech Monthly looks at activity in New York’s tech sector, including employment growth, leasing activity, venture capital funding and companies hiring.

Highlights of our August report include:

  • Tech sector employment in New York City increased by 5.2 percent year-over-year in June, again the largest industry growth among all major sectors.
  • Tech tenants committed to 350,910 square feet of recorded transactions in July—an uptick
  • Read More

High-tech boosts office recovery, but at a high cost

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JLL’s July high-tech employment update analyzes how key U.S. markets are responding to high-tech economic growth

Key points reported in JLL’s latest update include:

  • High-tech_blogHigh-tech services employment across the U.S. continues to swell, adding 104,600 jobs and growing by 4 percent year-over-year in May – this growth accounted for 19 percent of all office jobs added during the same period.
  • At 2.7 million jobs, the U.S. high-tech services sector
  • Read More