The Cincinnati metro area added 19,300 jobs over the past year and unemployment rose slightly to 5.5%. The office employment sector gained 6,800 jobs, led by professional and business services adding 6,200 jobs. Total US jobs increased by 126,000 in March, below forecasts. Cincinnati's economy is growing, with expected job growth of 2% and nearly 21,000 new jobs in 2015. Several Cincinnati businesses are expanding, including Northwestern Mutual Life Insurance, RoundTower Technologies, and Startek USA.

1. Office employment trends (12-month change)
Cincinnati
Sources: Jones Lang LaSalle Research, Bureau of Labor Statistics
5.5%Cincinnati unemployment
• The Cincinnati metro enjoyed strong jobs growth by recently adding
19,300 payrolls, year-over-year, bringing total non-farm employment to
1.03 million. Meanwhile, unemployment rose 1.2 percent from the
previous month to 5.5 percent, equal that of the national level.
• The office employment sector continued its streak of strong jobs growth,
posting an annual net gain of 6,800 jobs according to the latest data from
the BLS. Professional and business services led the pack, adding a
whopping 6,200 new jobs, year-over-year. Meanwhile, the government
supersector continued its now seven month streak of negative jobs
growth, dropping 1,400 from payrolls, annually.
• Total U.S. nonfarm employment increased by 126,000 jobs in March, the
lowest level since March 2013 and well below economist forecasts of
244,000 jobs. Downward revisions were also made to the January and
February figures, totaling 69,000 jobs.
• U.S. unemployment was unchanged at 5.5 percent and wage growth
remained sluggish as average hourly earnings increased only 2.1 percent
year-over-year, far below the Fed’s goal of 3.5 percent or better.
Total jobs vs. Unemployment rate
Cincinnati
1.9%Cincinnati 12-month job growth
5.5%U.S. unemployment
2.3%U.S. 12-month job growth
Office employment update
Metro Cincinnati . April 2015
Unemployment
3.1%
Cincinnati is driven by a diverse range of office-using tenants, while the bulk of
activity has historically belonged to medical, data, and marketing and branding
firms. The office sector continues to experience new development, with
particular renewed interest in the suburban markets, which ended 2014 with
over 450,000 square feet of office space under construction.
The Cincinnati economy is humming, moving from its slow-gear recovery
stages and now poised for accelerated growth and expansion. A number of
high-profile capital investments announced in 2014 have marked a continually
improving real estate market and metro as a whole, while strengthening
employment figures indicate the growing strength in the Cincinnati labor
market. In fact, the Cincinnati USA Regional Chamber expects local
employment to increase by 2.0 percent through 2015, bringing with it an
increase of nearly 21,000 net new jobs.
Office real estate implications
Job growth/loss by sector (12-month change)
Cincinnati
-1,400
-1,300
-100
200
400
1,800
2,600
3,700
6,200
7,200
-2000 0 2000 4000 6000 8000
Government
Educational & Health Services
Other Services
Information
Leisure & Hospitality
Financial Activities
Manufacturing
Mining and Logging
Professional & Business Services
Trade, Transportation & Utilities
Number of Jobs
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
900,000
920,000
940,000
960,000
980,000
1,000,000
1,020,000
1,040,000
1,060,000
1,080,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Peak: 1,069,054 jobs
Total Employment
3.2%
(15.0)
(10.0)
(5.0)
0.0
5.0
10.0
15.0
2010
2011
2012
2013
2014
2015
Financial Activities Professional and Business Services Information Government

2. © 2015 Jones Lang LaSalle IP, Inc. All rights reserved.
All information contained herein is from sources deemed
reliable; however, no representation or warranty is made
to the accuracy thereof.
JLL Americas Research • Cincinnati Office Employment Update 2
February 2013 February 2014 February 2015
Total Non-farm
Employment
1,000,100
1.3%
1,015,200
1.5%
1,034,500
1.9%
Unemployment Rate 7.9% 6.6% 5.5%
Cincinnati Supersectors February 2013 February 2014 February 2015
Mining, Logging and Construction 34,800 -0.3% 36,000 3.4% 39,700 10.3%
Manufacturing 104,100 -0.3% 107,600 3.4% 110,200 2.4%
Trade, Transportation, & Utilities 196,900 0.8% 198,700 0.9% 205,900 3.6%
Information 14,200 2.2% 13,300 -6.3% 13,500 1.5%
Financial Activities 64,600 2.1% 65,700 1.7% 67,500 2.7%
Professional & Business Services 157,600 1.1% 161,400 2.4% 167,600 3.8%
Educational & Health Services 154,100 2.1% 158,100 2.6% 156,800 -0.8%
Leisure & Hospitality 102,000 3.8% 104,200 2.2% 104,600 0.4%
Other Services 39,400 4.8% 38,300 -2.8% 38,200 -0.3%
Government 132,400 0.2% 131,900 -0.4% 130,500 -1.1%
News on the street
Cincinnati businesses expanding, contracting, etc.
Employment statistics
Cincinnati
Industry employment stratification
Cincinnati
Assurex Health Ι Medical & Diagnostic Laboratories: Relocating
Assurex Health recently revealed that it plans to move its headquarters and laboratories to a $15 million complex that will be built next year in Mason’s Oakpark
District. The building on Innovation Way, near the planned $16.4 million Western Row Interchange for Interstate 71, will anchor a 30-acre, mixed-use development.
The city of Mason owns the now vacant land. The 60,000-square-foot Assurex complex will be designed to allow a build-out of another 30,000 square feet.
Empower Group Ι Advertising & Marketing Services: Expanding
Two subsidiaries of Empower Group, one of the region's largest marketing and branding agencies, are in line to receive nearly $200,000 in city income tax breaks in
order to create 70 new jobs at 1111 St. Gregory Street .Cincinnati City Council's Budget and Finance Committee will consider job creation tax credits for Empower
MediaMarketing and an affiliate, Powerhouse Factories, which are expected to add 40 new jobs and 30 new jobs over the next three years, respectively.
Masters Pharmaceutical Ι Professional Services Sector: Relocating
Masters Pharmaceutical revealed plans to move its corporate headquarters from Forest Park to Mason, where the fast-growing firm intends to build a 300,000-
square-foot office, warehouse and distribution center on 47 acres. Total investment would approach $16 million for the land, building and equipment. Phoenix
Architecture of downtown Cincinnati is the architect and Design Build Solutions of Sharonville is builder of the complex near 2563 State Route 741 and Binion Way.
Northwestern Mutual Life Insurance Co. Ι Life Insurance Carriers: Expanding
Northwestern Mutual Life Insurance Co. is booming as the economy grows, causing its Greater Cincinnati agency to seek 31 full-time financial representatives.
Norwood-based Northwestern Mutual–Cincinnati will add the reps to its fast-growing operation. It opened a downtown office a year ago and now has 198 employees
in its four offices: Norwood, downtown, West Chester and Dayton. Northwestern Mutual has 85 local financial representatives.
RoundTower Technologies Inc. Ι Information Technology Services: Expanding
One of Greater Cincinnati's fastest growing technology companies is looking for a new headquarters. RoundTower Technologies Inc., which had 2014 revenue of
about $140 million, is looking for 30,000 square feet of space to house the company's headquarters. Currently, the company leases about 13,000 square feet of
space at 4555 Lake Forest Drive. The company is targeting a move south, with Kenwood Collection and Rookwood Exchange as two potential home.
Startek USA Inc. Ι Computer Software: Expanding
Customer service company, Startek USA Inc. (NYSE: SRT), is planning to expand in Greater Cincinnati and bring 682 new full-time jobs to the region. Startek is set
to open a new location in Hamilton in order to keep up with demand from its customer base. The project was approved for a 65 percent, seven-year tax credit by the
Ohio Tax Credit Authority. Startek is required to maintain operations at the new site for at least 10 years.
Cody Brooks
Research Analyst
tel +1 513 297 2509
Cody.Brooks@am.jll.com
312 Walnut St,
Suite 3030
Cincinnati, OH 45202
www.jll.com/cincinnati
Robert Kramp
Senior Vice President – Americas
Midwest & Great Lakes Research Director
tel +1 312 228 2470
Robert.Kramp@am.jll.com
200 East Randolph Street,
47th Floor
Chicago, IL 60601
www.us.joneslanglasalle.com/research
Trade, transportation
and Utilities,
205,900, 20%
Professional and
Business Services,
167,600, 16%
Educational and Health
Services,
156,800, 15%
Government,
130,500, 13%
Manufacturing,
110,200, 11%
Leisure and Hospitality,
104,600, 10%
Financial Activities,
67,500, 6%
Mining, Logging and
construction,
39,700, 4%
Other Services,
38,200, 4%
Information,
13,500, 1%