Research Briefing | Jul 3, 2023

Europe: City employment growth eases, but office sectors still lead

Labour markets in European cities have shown remarkable resilience over the last few years, and employment in office-based sectors especially so. But from this year onwards, we expect the pace of office employment growth to slow.

What you will learn:

  • Stockholm, Amsterdam, and London should see some of the fastest growth in office-based employment over the next five years. Conversely, we expect Barcelona, Paris, and Lisbon to underperform their peers in terms of growth.
  • We expect information & communication to be one of the key drivers of office-based employment in the medium term, despite the numerous reports of layoffs in the tech sector this year.
  • We forecast the strongest productivity growth in office-based sectors in Warsaw, Budapest, Vienna, and Paris, with positive implications for wages, profitability, and rental income.
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