Total employment growth in November across our 30 metros was weak compared with the rest of 2023, growing by 0.3% 3m/3m once seasonally-adjusted. On average, office-based jobs contracted for the second consecutive month, by 0.3% 3m/3m – the largest decline since August 2020. Looking ahead, our view remains that high interest rates will continue to weigh on activity and job growth in all metros, while weaknesses in the information sector will particularly affect those in the West.
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