The great recession crushed businesses across every sector and every region, and it has been a slow climb out of the rubble with vestiges of the downturn still impacting business and the economy. One of the most notable changes we have observed is a trend toward more measured, and tentative hiring patterns in an effort to keep compensation costs in check. However, one of the more telling effects was reported this morning in the Wall Street Journal.
According to a study released Monday by Georgetown University's Center on Education and the Workforce, the US economy now has approximately one million more jobs in occupations that rank in the top third of income and 800,000 more in the bottom third. The middle third however, has yet to recover the jobs lost during the recession. This is strong evidence that mid-level jobs are dwindling while higher level jobs, going primarily to college graduates, are growing robustly.
I was not surprised by this report because it confirmed our experience in the real estate market observing that in many companies, mid-level jobs have been downsized or outright eliminated as businesses are doing more with less, smartly leveraging technology, and flattening the organization chart. Stay tuned as this trend is going only going to accelerate as the economy continues to reshape and realign the workforce.
Sponsored Jobs:
ABBVIE PHARMACEUTICALS
International Real Estate Transaction Manager
(NORTH CHICAGO, IL) Duties include: managing, negotiating and coordinating U.S. and International commercial real estate lease transactions, including but not limited to lease renewals, subleases, expansions, and terminations. Additional duties include broker selection, market analysis, financial analyses/projections, site selection, business case preparation, and lease/sublease/buyout negotiations. (Sponsored Job)
NORTH SHORE LIJ
Operations Manager
(MANHASSET, NY) Position will plan, organize and manage the staff and daily activities of Property Management; prepare manage and coordinate annual budgets and cost control measures with Real Estate Services; and assume responsibility for the performance of capital projects through completion. (Sponsored Job)
MARCUS & MILLICHAP
Real Estate Investment Sales
(PALO ALTO, CA) Marcus and Millichap specializes in the sale of apartment buildings, retail properties, office buildings, hospitality, etc. Employment opportunities available now for motivated Investment Real Estate Professionals. (Sponsored Job)
TRANSWESTERN COMMERCIAL SERVICES
Research Analyst
(DALLAS, TX) Research Analyst will be responsible for maintaining statistical data and analytics on the local commercial real estate market, focusing on office properties. Analyst will be responsible for writing and producing quarterly market and submarket reports as well as conducting research projects related to lease and sales transactions by the brokerage's team.
CBRE
Director, Reviewer – Architect or Engineer
(GLENDALE, CA) Director will review Equity Level Property Condition Assessments prepared by staff architects and engineers; coordinate technical staff activities; interface with clients; and mentor and train junior staff.
AIG GLOBAL REAL ESTATE INVESTMENT CORP.
Investment Manager/VP – Asset Management
(HOUSTON, TX) Position will manage all issues regarding loans in a portion of the commercial mortgage loan portfolio. Each investment manager will be responsible for managing 150 loans of the portfolio based upon geographical region.
UCSF MEDICAL CENTER
Senior Project Manager
(SAN FRANCISCO, CA) Under the direction of the Director, Real Estate Development, the Senior Project Manager will be responsible for effective project execution of third party delivery agreements, and will be accountable to all customers for overall project performance.
HOLLIDAY FENGOLIO FOWLER, L.P.
Debt – Real Estate Analyst
(CONSHOHOCKEN, PA) Duties include preparing commercial loan packages and submissions for presentations to lenders; responding to lender regarding properties; and coordinating information regarding market data, occupancy data, expense analysis, aerials, maps and rent/sales, and comparables.
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