San Jose White Collar Job Growth Points to a New Future for Office

White collar jobs in San Jose are a beacon of good news for the local office market, which has been rocked by the pandemic. A report from Marcus & Millichap has found that stability in tech sector jobs will pave the way for new hiring in secondary positions, ultimately supporting recovery in the office sector. However, there are still several stormy quarters ahead first.

The Marcus & Millichap report forecasts 41,900 new jobs created this year in the San Jose market, with payrolls increasing by 3.9%. Several companies are playing a role in the job growth. During the pandemic, tech companies retained a large share of their staff, and office-using companies were able to maintain staff levels within 1% of pre-recession numbers at the end of the first quarter this year.