Many Offices Still Waiting for a Return of Workers

As of June, the major office-using employment sectors, which include information, financial activities, and professional and business services, have outperformed the broader labor market since the onset of the pandemic, with employment sitting more than 3% above February 2020 levels. Still, demand for office space remains relatively weak, as the expanded adoption of remote and hybrid workplace schedules has led firms to reassess, and often shrink, their physical footprints.