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US Office MarketView Q2 2013

Despite economic headwinds from federal budget sequestration, the U.S. office market continued its steady pace of recovery during Q2 2013. Office demand benefited from a slightly lower unemployment rate, at 7.6% as of June, and growth in professional and business service jobs, with the national vacancy rate decreasing by 20 basis points (bps)during the quarter to 15.2%. This was the fourth quarterly decline in the last five quarters.

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