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Roanoke-Lynchburg, VA : Office Snapshot - Q1 2014

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The Roanoke metropolitan area continues to garner attention as one of the best work environments in the United States. According to a recent Gallup survey that polled hundreds of thousands of Americans over the past two years, Roanoke came in 7th out of 189 metro areas on the Work Environment Index. The index is based on four factors: 1)Job satisfaction 2)whether employees felt they used their strengths at work 3)how employees were treated by their supervisors 4)and whether supervisors created an open and trusting work environment.

The unemployment rate for Roanoke was 5.6% in January, the most recent month figures were available. This is down from 6.4% at the same time last year. Unfortunately, the employment sectors that drive office space use did not fare well in 2013. The largest loss of employment occurred in Professional and Business Services, a sector that is key to a healthy office market in commercial real estate. Total employment in this sector dropped 3.3%. Government and Leisure & Hospitality were the biggest gainers in 2013, at 4.4% and 3.8% respectively.

Source : Cushman & Wakefield