Category Archives: Employment and jobs

JLL’s U.S. Employment Data and Trends

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United States unemployment rate is the lowest it has been since August 2007, setting the stage for an imminent interest rate hike from the Federal Reserve in the near future. JLL’s employment report digs into the data and the trends.

The November 2016 employment summary includes:

  • The U.S. labor market added 178,000 net new jobs in November, consistent with monthly additions during the second half of 2016 but below the year-to-date and 2015 averages.
  • Labor-market tightening has become very
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JLL 2016 Tech Outlook

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The technology sector is still the leading industry for real estate expansion and employment growth. JLL’s 2016 Tech Outlook features everything you need to know about tech today in the United States.

Top Five National Trends to Watch

  1. Technology remains the leading industry for real estate expansion in the United States and has quickly become a key economic driver in many cities.
  2. National tech employment may be slowing, but it’s still driving employment growth in the United
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Technology Sector Drives Q3 Office Demand

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  • cow_new-jersey_oct_10_2016While banking/financial services and pharmaceutical/life sciences have historically accounted for a large portion of Northern and Central New Jersey office demand, information/technology companies recently stepped into the batter’s box. This sector accounted for nearly one-third of leasing activity during the third quarter compared to less than 10.0 percent of transactions one year ago.
  • Contributing to
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JLL New Jersey’s Project and Development Services Team Helps Clients Boost Collaboration

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JLL’s Jerry Sullivan, senior vice president of New Jersey’s project and development services (PDS), shares the impact of upgrading the workplace to encourage collaboration and productivity.

Given the trends we are tracking in the workplace, Sullivan indicates “Greater focus on including programmed work areas that have mixed-use, multi-functional attributes for meetings, work activities and socialization are becoming important benefits to employees when they evaluate their work experience.”

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Which Sectors are Driving New Jersey’s Office Demand?

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COW_New Jersey_Aug_22_2016

  • Nearly two-thirds of leasing activity witnessed in the Northern and Central New Jersey office market since the beginning of 2016 was focused in three key business sectors: banking/financial services, pharma/life sciences and information/technology.
  • While banking/financial services and pharma/life sciences have historically accounted for a large portion of office tenant demand, the information/technology
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Metropark: New Jersey’s Transit Hub Continues to Attract Office Tenants

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  • Metropark-COW_New Jersey_Jul_11_2016The Metropark submarket is considered one of the most strategic office locations in the state, owing to its superior highway access and commuter rail service via Amtrak and New Jersey Transit.
  • These attributes have drawn recent office tenant requirements to this submarket.
  • After nearing 25.0 percent in 2014, the Metropark Class A vacancy rate had
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Q2 2016: New Jersey’s Office Market Shows Signs of Improvement

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  • COW_New Jersey_Jun_27_2016After less than 2.0 million square feet of leasing transactions were completed in the Northern and Central New Jersey office market during the first quarter, leasing velocity ticked upward to just over 2.4 million square feet three months later.
  • However, demand remained below the more than 3.0 million square feet of leases completed on a
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New Jersey’s Suburban Transit Hubs: Quick Facts

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JLL New Jersey’s 2016 Transit Hub Report features three of the state’s four suburban hubs. Below are quick facts about each.

MetroparkMetropark:

  • Considered one of the most strategic office locations in the state, owing to its superior highway access and commuter rail service via Amtrak and New Jersey Transit.
  • With more than 7,400 average weekday boardings, the Metropark Station is the fourth busiest New Jersey Transit Station after New
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Millennials and Their Attraction to New Jersey’s Transit Hubs

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MillennialsGraphicThe millennial generation, born between 1983 and 2000, are the biggest in U.S. history and are preparing to move into their prime spending years. This shift will reshape the economy, as their unique experiences will change the ways we buy and sell, forcing companies to examine how they do business in the years ahead.

JLL New Jersey’s Spring 2016… Read More

Office Insights – Q1 2016

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​While last year’s activity was largely driven by expansions, 2016 is starting out with tenants staying the course. More than half (53.8%) maintained their current occupancy this quarter, rather than expanding. But that hasn’t tempered landlord optimism.

Rents increased 3.2% on average nationwide—the highest quarterly rent growth of this cycle. Bolstered by strong tenant demand and unshaken by concerns over the strength of the economy, landlords continued to push rates in the most supply-constrained markets.

Compare… Read More