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​​​​​​​​​​​​​Near-full employment will lead to decelerated leasing velocity and moderated occupancy growth.

Near-full employment markets and a shortage of skilled talent are restricting expansionary activity in several major technology hubs. This resulted in decelerated leasing velocity and moderated occupancy growth in the fourth quarter of 2016. However, tech remained the primary​​ office demand driver, representing 24.4 percent of quarterly leasing nationally. 

Broader economic trends appear favorable heading into 2017 with increased optimism toward business conditions, personal finances and employment. The shift in public policy will be a key factor to watch. Learn more in our most recent report.

Leasing by industry​​

Tech remains by far the leader in leasing activity, even as the industry faces a talent shortage​.

Source: JLL Research — leasing activity > 20,000 s.f.

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