Colliers International has just released its 3Q 2014 North America Office report. It notes that office demand is improving and the United States is on pace this year to create the most jobs since 1999. Further, office-using employment growth, at 2.8%, was even stronger than overall job growth. This was assisted by recovery in the FIRE sector. Indicative of the broadening economic and office market recoveries, just 15 of the 84 U.S. metro areas tracked by Colliers lost office-using jobs year-over-year in August 2014. Previous laggards such as Las Vegas, Los Angeles, Sacramento, Phoenix and Jacksonville were among the strongest markets for office-using job growth. This has fueled net demand for office space, causing the U.S. vacancy rate to decline to 13.5%, the lowest since Q2 2008.
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