U.S. Financial Services Set for More Growth?
The financial services sector is the largest office space user in the U.S.
- Financial services companies are set to occupy more office space over the next two to three years.
- The financial sector recovered slowly early in the recovery, but has accelerated in recent years and is now back to its long-term trend of adding about 120,000 jobs per year, up from 77,000 early in the expansion.
- This stronger performance will impact some markets more than others, and not just the large financial services sector centers like New York. Markets where the financial sector is a large part of the local economy, like Miami and Tampa, will benefit greatly from this revived growth.