Jobs are everything to an economy. Period. And perhaps one of the best barometers of Corporate America’s economic mood and outlook is reflected in the total usage of office space.
Good news, as reported in the Wall Street Journal Tuesday January 4, 2011, is that total occupied office space in the U.S. increased in the fourth quarter of 2010 for the first time in three years.
- Business vacated 137.8 million square feet of office space between January 2008 and September 2010
- National office vacancy rate is 17.6 percent
- U.S. absorbed 2.5 million square feet (net) in Q4 2010 after having negative net absorption for 11 consecutive quarters
Based on previous studies (see the references in previous posts Lean, Liquid, Less = Nimble and
Yep—we are starting to see genuine job growth—but at a very tepid pace.
Good news—and no train in this pass.