An In-Depth Look: Employment and Job Vacancy Forecasts For The Future

2023 promises to hold immense changes for different sectors, including employment and job vacancies. Indeed, the pandemic has caused significant disruptions, but many organizations have had to adapt to maintain growth. As such, understanding how current market trends are affecting the workforce is essential. Let’s look deeply at employment and job vacancy forecasts for the following quarters. Let’s talk about some of what we know so far:

The Bottom Line

Labor shortages cause employers to be reluctant to cut workers, even when economic growth is faltering or uncertain.

Employers have been struggling to fill vacancies since the pandemic. Additionally, as the post-pandemic labor demand exceeds available workers, businesses will likely keep employees, even at higher wages.

This should limit the increase in unemployment and avoid an abnormal recession.


Why It Matters

Jobs are the largest source of household income. Income, in turn, is a significant determinant of consumer spending—the lifeblood of stable economic growth.

When employment is high, businesses can produce and sell products or services, providing a sense of normalcy.

Importantly, with a decreased labor supply, companies may not be able to meet the high market demands, which will impact the economy negatively.


Looking Underneath the Hood

A Closer Look at Houston Office Market:

According to the Quarterly Data Dump Market Update provided by The Linnerman Letter, the Houston/The Woodlands/Sugarland Employment rate is likely to continue increasing in the coming years:

It is expected that the growth of the office-using sector will lead to an increase in the demand for commercial real estate space, particularly for tech-related and healthcare industries. This demand for office space may cause a decrease in the vacancy rate in the Houston Office Market. Additionally, absorption rates are predicted to increase and then decrease in 2026:

Understanding employment trends and job vacancy forecasts is essential in making informed market decisions.

These forecasts inform businesses’ staffing needs and reveal emerging market opportunities for commercial real estate investors.

If you want to leverage the insights the Quarterly Data Dump Market Update provides, it’s best to seek assistance from an experienced and credible commercial real estate professional.

City National Rochdale – July 2023 Market Update
The Linneman Letter – Office Market Vacancy and Absorption Projections, Volume 23, Issue 2.
The Linneman Letter – Linneman Associates’ 5-Year Employment Forecasts

Do you want valuable market knowledge and expertise to ensure market success?

Let’s talk!

Navigating the Uncertain Future Economic Landscape

Insights from the CNR July Market UpdateThe CNR July market update has delivered some significant insights into the state of the economy both now and for the next few quarters. Is a mild recession likely on the horizon? Focusing on the upcoming quarters is essential...

Major Occupier Trends Since COVID in Texas

COVID-19's impact on the economy has triggered significant changes that have influenced the real estate industry. These changes in Texas have undeniably impacted occupier trends in the office, industrial, and retail sectors. Occupiers are more discerning and want more...

Assessing Your Needs: A Crucial Step for a Successful Business Move

As a client, moving your business to a different location can be pretty daunting, and certain factors come into play when making this decision. From saving money to rebranding, the reasons for a move are numerous. Businesses often call Real estate professionals to...

The Consumer’s Role in Economic Strength: Analyzing Income, Jobs, and Spending

The economy constantly fluctuates, bringing excitement and anxiety to businesses and consumers alike. But amidst all the ups and downs lies a constant force that drives the economy - the consumer. We'll be diving into sales, income, spending, and employment to give...
Honored To Be #3 Commercial Real Estate Team In Texas-1

Honored To Be #3 Commercial Real Estate Team In Texas

A Testament to Our Commitment to ExcellenceAt RE/MAX Commercial Advisors Group, we take pride in our ability to provide exceptional real estate services to clients across Texas. Recently, our efforts were recognized when we were named the #3 Commercial Real Estate...
10 Things You Should Know Before Buying Land In Houston-1

10 Tips You Should Know Before Buying Land In Houston

As a business owner or real estate investor, purchasing land in Houston can be a great investment opportunity. However, navigating the land-buying process in Houston can be quite complex, with various factors to consider before making such a significant investment....
The 10 Things You Should Know About Leasing a Retail Space In Houston-1

The 10 Things You Should Know About Leasing a Retail Space In Houston

When finding the perfect storefront for your business, Houston is a great place to explore retail leasing opportunities. With plenty of diverse neighborhoods and multiple commercial districts available, there are many considerations when deciding on the ideal...
Top 10 Insights for Navigating Houston Industrial Property Market-1

Top 10 Insights for Navigating Houston’s Industrial Property Market

Houston is the fourth-largest city in the United States, boasting a thriving business ecosystem. The city is home to several industries, including healthcare, energy, and technology, with a total workforce of over three million. With such a vastly growing business...
Commercial Real Estate Loans Coming Due: Are You Prepared?

Commercial Real Estate Loans Coming Due: Are You Prepared?

As business owners and investors adjust to economic uncertainty amid a global landscape of change, one thing remains clear: There's no time like the present to get informed about the oft-regulation-riddled commercial real estate loan process. In the upcoming months,...
Is Now The Time To Hire a Commercial Real Estate Broker?

Is Now The Time To Hire a Commercial Real Estate Broker?

When you are ready to buy, sell, or lease industrial or commercial property, the right real estate professional can be an invaluable asset. But how do you know when it’s time to hire a professional? We have gathered the five tell-tale signs that indicate it’s time to...