NEW YORK CITY—The city’s diverse economy continued to drive leasing during the year’s first quarter, according to a new research report by Avison Young, with job growth across all office-using employment sectors.
While the unemployment rate here is 5.4%—compared to 4.9% nationally—increased hiring activity at the start of the year by financial services, technology and information, and professional and business services companies—coupled with slight expansion across these industries—bodes well for office properties.