The Changing Expectations for U.S. Office Recovery
Jun 26, 2020, 10:02 AM
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The unprecedented toll of the current pandemic on the U.S. economy led to the national employment rate jumping from 3.5% in February to 13.3% in May - the worst rate since the Depression Era, according to the Bureau of Labor Statistics (BLS). Despite the staggering rise of unemployment and negative GDP figures, 9 of 10 respondents to a BLS survey considered themselves on a temporary layoff. The office sector benefited from a fast adaptation of work-from-home policies.
Looking forward, the U.S. office sector most likely will not be able to go through the current crisis unscarred. CBRE EA is evaluating different projections for new office densities and work from home duration and shares.
To read a more detailed viewpoint of the office trends forecast, visit the report linked below.