The trend of increasing office availability in New Jersey seems to be a lasting one

  • As of October 2023, there are 32,835 fewer office-using job postings in New Jersey compared to the beginning of April.

 

  • Many companies are persistently working on optimizing their workplaces through hybrid and remote work arrangements, as well as the integration of AI.

 

  • A decline in job postings serves as a forward-looking indicator for office utilization, signifying reduced demand for employees and subsequently a reduced demand for office space.

 

  • Office availability has increased from 18.9% to 19.7% year-over-year, and this trend appears likely to continue with the decline in office-using job postings.

October 19, 2023

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