Hybrid work appears here to stay—and with it, the role of the office has evolved. So what does that mean for the future of demand in the sector? 

According to a new report from Cushman & Wakefield, demand is returning—and as with most cycles, it's being driven by job creation. Cushman researchers note that in the  two years since the first COVID-19 lockdown, much of the world has returned to pre-pandemic employment levels.  By way of comparison, it took three times as long after the Great Recession for that to happen. 

The firm says that long-term, US office-using employment is expected to grow 50% faster than total employment by the end of 2030 with high-tech jobs forecast to grow twice as much. And at the moment, current demand "indicates confidence," the report notes, with the four-quarter national rolling leasing activity metric up 41% as of last quarter, and leasing activity clocking in as up twice as much on average in the six key US gateway cities, at 63%.