Tag Archives: Employment

Strong market fundamentals as 2016 begins: Q1 2016 Office Insight

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Steady absorption with continued Phoenix growth
The Phoenix metro area office market picked up where it left off at the end of last year. Built on a stable economic foundation of strong job growth and calculated construction, new office space is… Read More

Phoenix Employment Update: February 2016

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In 2015, the Phoenix office market recorded the largest absorption gains since the Great Recession. Total vacancy in Phoenix decreased to 20.9 percent at the close of 2015 and year-to-date total net absorption reached… Read More

Phoenix Unemployment Update: January 2016

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In 2015, the Phoenix office market recorded the largest single-quarter absorption gain since the Great Recession. Total vacancy in Phoenix decreased to 20.9 percent at the close of 2015 and year-to-date total net absorption reached… Read More

Phoenix Unemployment Update: December 2015

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The Phoenix office market continues to improve in 2015. Total vacancy in Phoenix decreased to 21.8 percent in the third quarter, the lowest level since the Great Recession. Year-to-date total net absorption reached 1,209,529 square feet, which is the… Read More

Phoenix Unemployment Update: November 2015

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Phoenix job growth continues to gain momentum, adding 46,800 jobs to the Valley in the 12 months ended in September 2015.

Education and Health Services saw the largest gains, adding 8,400 new jobs (3.1 percent) over the last 12 months.… Read More

Phoenix employment update: July 2015

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Phoenix 12-month job growth kicked off the second quarter on a very positive note, adding over 55,500 jobs to the Valley.

Education and Health services saw the largest gains, adding 13,074 new jobs over the last 12 months. Professional and Business Services also continued its consistent growth, adding 11,925 new jobs. The under-performing Manufacturing sector was the only sector to lose jobs in the last year, with 1,773 jobs lost.

Phoenix’s unemployment rate decreased to 4.6 percent, well below the Arizona rate (5.8 percent) and that of the rest of the nation (5.5 percent).… Read More

Q2 Phoenix Industrial Insight: Construction shaping the industrial landscape

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Developers focusing on submarkets with large existing availabilities
The two largest industrial submarkets in the Valley, Southwest and Airport, feature some of the highest availability rates at 16.6 percent and 12.8 percent, respectively. Despite large amounts of available space, including a total of 54 blocks of available space of 100,000 square feet or more, developers have chosen these submarkets as the location for 88 percent of the new, mostly speculative product currently under construction market-wide. Corporate tenants have moved away from the outdated space offerings currently available, preferring to pay a premium for design-builds or newly delivered speculative Class A product that can offer more functional space with larger clear heights.… Read More

Phoenix employment update: June 2015

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Slide 1Phoenix 12-month job growth kicked off the second quarter on a very positive note, adding over 51,000 jobs to the Valley.

Unsurprisingly, Professional and Business Services led the charge, adding 11,303 new jobs over the last 12 months. Education and Health Services also continued its consistent growth, adding 10,677 new jobs. While the under-performing Manufacturing sector lost 1,773 jobs over the last year, the Construction sector added 4,210 jobs, finally improving after months of losses.… Read More