Tag Archives: employment

Is reverse-commuting the new live-work-play?

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Despite the once prevalent “live-work-play” trend, recent data shows that there are over 4.8 million reverse commuters out of major cities. This recent phenomenon comes at a time where people are moving into cities much more quickly than jobs are becoming available.

Historically, jobs would lead the charge—employees would follow… Read More

Office-using employment drives Manhattan’s labor market, accounting for a growing share of jobs

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There’s been quite a buzz about a national unemployment rate of 4.0 percent, however less than one quarter of jobs across the USA are considered office-using – implying this historically tight labor market is impacting office fundamentals in some metros more than others.

Such is the case for New York,… Read More

Are educated millennial moms the answer to the employment shortage?

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This month’s unemployment rate is 3.8 percent- a historical low, and for the first time since the statistic has been tracked, there are more unfilled jobs than there are people looking for jobs! The majority of those unemployed are women. Nor surprisingly, more educated women then educated men are unemployed- presumably choosing to stay at home to care for their children.

But the facts are more staggering than you think:Read More

Where are all the workers?

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As of January 2018, roughly 6.3 million job positions in the U.S. remained open but unfilled—a record high.

American companies have been creating about 150,000-200,000 net new jobs per month in recent years, keeping pace with labor force growth.  But, according to the Manpower Group, roughly 40 percent of employers report difficulty filling jobs due to insufficient talent. And it’s not just tech or IT jobs—the jobs gap is impacting the… Read More

Manhattan’s Class A office market finishes 2017 strong

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Class A office product dominated Manhattan in the last quarter of 2017, as detailed in the Q4 2017 Office Insight report recently released by JLL Research. This “flight-to-quality”… Read More

Employment Update: July 2016 from New York Research

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The JLL New York Research Team has released their latest report, the New York Employment Update, which is a monthly review and analysis of the local economy and the overall employment situation and dynamics.

Some highlights of the report include an employment pickup that occurred in June, piloted by an 8,000 job-expansion month-over-month. Total employment remains elevated by 1.9 percent year-over-year.

So what does this mean for commercial real estate in the Big… Read More

NYC’s tech sector continued on its usual growth trajectory in May

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Q2 tech leasing activity surpasses previous quarter

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The July issue of JLL’s NYC Tech Monthly reported that in May, tech employment increased by 5.8 percent year-over-year, again marking the largest industry growth among all major sectors. Month-over-month however, the sector experienced a decline, losing 600 jobs in May.

Other highlights of the report include:

Rapid growth in the energy industry creates ripple effect on office, multifamily and retail space

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Energy is among the fastest growing industries in the United States, expanding at two-and-a-half times the national average in the past five years, creating a positive ripple effect through the economy. In fact, according to Bruce Rutherford, JLL’s Global Energy Practice Lead, without energy, there’d be no economic growth in the United States.

With this growth comes both challenges and opportunities for energy companies, as well as real investors and developers. JLL’s 2014… Read More

NYC Employment Update: private sector employment continues to rise

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New York City employment inched upward in April, besting the peak set in February

JLL’s New York City Employment Update covers key employment statistics and trends, and the subsequent implications for real estate.

Highlights from the June update include:

  • The city’s unemployment rate fell to 7.4 percent from 8.3 percent in March. The share of the employed
  • Read More

NYC high-tech employment expansion largest among all major industries

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TechMonthlyNYC

Tech industry consistently proves to be a growth engine for NYC and key player in the strength of the office market.

JLL’s latest NYC Tech Monthly reported that New York City high-tech employment expanded year-over-year by 4,200 jobs or 7.0 percent in April—the largest expansion among all the major industries.

Other highlights of the report include: