With its 10-city average Back to Work Barometer hovering at 43% of occupancy for more than two months, Kastle Systems said this week that offices barely half full may be the new normal for businesses nationwide.
"The consistency suggests these occupancy rates may be the new normal for businesses nationwide," Kastle said, in an email alert this week of its May 30 barometer tally, which reported a 10-city average of 42.9%.
Kastle's weekly barometer measures office entry-card swipes in major US markets and compares them to pre-pandemic levels to create its occupancy averages. Six of the 10 markets surveyed reported declining office occupancy rates in the May 30 report, including Austin, Dallas and New York City. NYC's occupancy dropped to 38% from last week's level of 38.2%
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