New York City Employment Update Jan. 2014

Kenneth McCarthy

VP, America Head of Applied Research

Phone +1 212 698-2502

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The New York City economy entered 2014 on a high note as employment growth and the total number of jobs hit record levels in 2013. However, in the key office using sectors, 2013 was a disappointment as employment barely grew. We look for a better performance in 2014 with healthier growth in office-using employment pushing vacancy rates lower in the Manhattan office market.