New job creation and recruitment in the US, caused by the wider economic recovery, is causing a surge in business for the commercial property market.
Real estate developers and agents have reported an upswing in business from companies looking to expand their office space to accommodate increasing headcounts. It reflects the strong job creation figures for this year, which have seen the national economy add more than 200,000 jobs in April, for the third month in a row.
Figures for May are expected to be on the same level, with a pace of job creation that is fast enough to keep up with the growth in population and to reduce unemployment.
Lawrence Yun, the chief economist at the National Association of Realtors, said, “Job growth creates demand for commercial space, and the economy should be adding between 1.5 million and two million jobs annually both this year and in 2012, with the unemployment rate falling to eight per cent by the end of next year. Given the minimal new supply in recent years, the rising demand means vacancy rates will be trending down.”
It is predicted that the greatest surges in job creation will be in cities known as tech hubs, such as San Francisco, Seattle and San José, and those with reputations as energy hubs, such as Dallas, Houston and Denver.
Become a Recruitment Genius
The induction process can be a daunting prospect for both the manager and the employee, with lots to remember from…
Making A Job Offer
This is one of the best parts of the recruitment process, as you are able to give the candidate the…
Effective Reference Checking For Prospective Employees
Reference checking is typically considered time-consuming and ineffective. However this is generally because companies adopt the wrong approach. Recruitment Genius…
Illegal Interview Questions
As an employer there are plenty of questions you are entitled to ask at interview. However, there are many questions…
Effective Interview Techniques
Whilst interview techniques will vary depending on the amount of time you have and the position you are recruiting for,…
Shortlisting Candidates for Interview
Whilst short-listing can be a time-consuming process, it is also an exciting moment when you get to meet the potential…
Could Application Forms & Career Portals Actually be Damaging Your Recruitment Campaign Prospects?
Career portals start with the best of intentions – to differentiate you as an employer of choice, underline your employer…
10 Tips To Improve The Success Of Your Online Recruitment Advertising
Online recruitment has revolutionized traditional advertising. You can now truly measure your return on investment and identify the most effective…
Secrets To Online Recruitment Success
Online job sites are arguably the most effective way to reach a wide range of candidates simply because they are…
Choosing The Best Online Job Boards
If you do not choose the best online job boards, then your recruitment campaign runs the risk of immediate failure.…
Selecting The Best Online Recruitment Company
The good news is that the age of expensive, poorly targeted newspapers and print media is pretty much dead. But…