4 At present, despite a strike in the motion picture industry that has affected recent payroll reports, office-using jobs are 1.9 million (6%) above February 2020 levels, a stronger recovery rate than in any other major sector. The office-using sector’s share of nonfarm jobs has increased from 21.8% to 22.4% in that timeframe.
5 This is true for a few reasons, including that new construction has typically been for larger floorplates, leading supply impacts on vacancy to be concentrated in larger building segments. Additionally, buildings closer to urban cores and population centers tend to be smaller and reflect the higher value of land associated with proximity.
6 Cushman & Wakefield analysis of CoStar data. Includes buildings with 50+ units in the top 90 U.S. markets
7 If including all segments, including those with under 50 units, this figure is larger.