Getting America
Back to Work

Class A+ Occupancy
Workers in A+ buildings reported to work in slightly lower levels this past week, compared to the two strong weeks that began the month.  Average occupancy was 78.6%, down from the above 80% of the two-week priors.   Peak occupancy occurred Tuesday, at 91.3%, down significantly from the week before, which came in at 97.8%,  All cities reported a lower weekly average, with the exception of San Jose which reported an occupancy of almost a tenth higher than the prior week. Driving the downward swing were two cities, New York which was down eight tenths and Houston which was down half a point from their weekly averages respectively for the prior week.

Peak Day
Daily office occupancy dropped slightly this past week, with Tuesday the peak at 64.7%, down from the prior week at 66.8%, a record high for the nation.  Eight of the ten cities had Tuesday as their peak, while New York City and Houston both reported Wednesday peaks, likely due to local events that impacted workers ability to get in to the office.  New York had a major FIFA match that day at MetLife stadium that disrupted transit systems and road travel.  Houston had flooding in parts of the city that led to a State disaster declaration as well as FIFA events downtown.  (We will monitor the impact of FIFA world cup activities that may be affecting the trend this year compared to prior June data.)

Weekly Average
June office occupancy this past week for the10 City Back to Work Barometer dropped slightly to 55.2% from 56.5% the prior week.  Nine of the ten cities reported similar drops in their weekly average, with San Jose the outlier, gaining 1.2% to a 46.1% average for the week.  Los Angeles had the biggest drop, down 2.7% to 48.8%, and New York down 1.4% to 62.1% average for the week.  We will be on the look out next week for the impact of the Juneteenth federal holiday.