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High-Tech Jobs, Office Demand Outpace Market

CHICAGO-Jobs for the high-tech sector are growing four times faster than the national average, especially in areas such as Silicon Valley, San Francisco, New York City, Seattle and Baltimore.

By Robert Carr | Updated on October 03, 2011

CHICAGO-The return of the high-tech office market is pushing rapid growth in areas such as San Francisco, Silicon Valley and Baltimore, with a job growth rate nearly four times faster than the national average, according to a recent Jones Lang LaSalle study. However, the company’s experts in this phenomenon, which witnessed a dramatic fall in the dot-com bust of 2001, said the growth should be sustainable this time around.

According to the JLL study, of the more than 500,00 office jobs created nationally since February 2010, more than 25% were in high-tech services. Office markets with large high-tech clusters have more than outperformed the rest of the country with strong rent growth and absorption.

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