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.
After registering negative absorption earlier this year, a rebound in leasing velocity changed the course of the Northern New Jersey Class A market during the past six months. Demand for Class A space led to 335,970 square feet being absorbed in the second quarter, followed by an additional 501,450 square feet
Northern and Central New Jersey’s new industrial development has become concentrated among a small group of institutional developers. 67.4 percent of all new development this cycle was controlled by the 10 largest developers in the market. Furthermore, an additional 13.6 percent of new construction was controlled by the next 10 largest
While 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
The growth and continued access to e-commerce have greatly impacted the global economy and supply chain. From big data to digital technology and demand for train and road access to warehouses, e-commerce is truly a game-changer.
In a new video, JLL’s Global Industrial Board shares perspectives on the current industrial trends experienced around the world. Watch below to learn more.
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