Jan
10
How Did Office Employment Perform in 2017?
ByThere are about the same number of non-labor force participants today as in 2007. The good news is, there are more jobs available today.
December’s payrolls report “showed a modest deceleration in employment, as total private sector job growth at the establishment level rose by 146,000,” which was well below the 239,000 upwardly revised gain in November, according to a new report from Savills Studley. More specifically, office employment grew by 32,000 in December, which the report calls “a disappointment,” given monthly growth averaging 53,000 over the past year.
During 2017, office employment grew by 621,000, versus 710,000 in 2016. A major issue for the year just starting, the report says, is “whether companies are looking to slow their headcount growth” or whether the shortfall reflects their inability to find qualified workers in a tight labor market…
