The Cincinnati metro enjoyed strong jobs growth by recently adding 21,700 payrolls, year-over-year, bringing total non-farm employment to 1.05 million. Meanwhile, unemployment fell 20 basis points from the previous month to 4.1 percent.

1. Office employment trends (12-month change)
Cincinnati
Sources: Jones Lang LaSalle Research, Bureau of Labor Statistics
4.1%Cincinnati unemployment
• The Cincinnati metro enjoyed strong jobs growth by recently adding
21,700 payrolls, year-over-year, bringing total non-farm employment to
1.05 million. Meanwhile, unemployment fell 20 basis points from the
previous month to 4.1 percent.
• The office employment sector continued its streak of strong jobs growth,
posting an annual net gain of 8,800 jobs according to the latest data from
the BLS – its highest gain since November 2013. Professional and
business services led the pack, adding a whopping 7,700 new jobs, year-
over-year. Meanwhile, the information and government supersectors fell
slightly into the red, each dropping 300 from payrolls, annually.
• Total U.S. nonfarm employment increased by 257,000 jobs in January,
and upward revisions were made to prior months totaling 147,000 jobs.
Gains in January were led by retailers, construction firms and health-care
companies.
• Meanwhile, the U.S. unemployment rate decreased 90 basis points from
the prior year to 5.7 percent, the fifth month in a row below 6.0 percent.
Labor force participation ticked up slightly to 62.9 percent but remains at
its lowest level since 1978.
Total jobs vs. Unemployment rate
Cincinnati
2.1%Cincinnati 12-month job growth
5.7%U.S. unemployment
2.3%U.S. 12-month job growth
Office employment update
Metro Cincinnati . February 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
-400
-300
-300
1,100
1,700
2,500
2,900
3,000
3,800
7,700
-2000 0 2000 4000 6000 8000 10000
Educational & Health Services
Information
Government
Other Services
Financial Activities
Mining and Logging
Manufacturing
Leisure & Hospitality
Trade, Transportation & Utilities
Professional & Business Services
Number of Jobs
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
920,000
940,000
960,000
980,000
1,000,000
1,020,000
1,040,000
1,060,000
1,080,000
1,100,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Peak: 1,074,050 jobs
Total Employment
3.1%
(15.0)
(10.0)
(5.0)
0.0
5.0
10.0
15.0
2010
2011
2012
2013
2014
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
December 2012 December 2013 December 2014
Total Non-farm
Employment
1,019,300
1.4%
1,033,000
1.3%
1,054,700
2.1%
Unemployment Rate 6.8% 6.1% 4.1%
Cincinnati Supersectors December 2012 December 2013 December 2014
Mining, Logging and Construction 38,100 -1.3% 38,300 0.5% 40,800 6.5%
Manufacturing 105,800 0.1% 106,800 0.9% 109,700 2.7%
Trade, Transportation, & Utilities 206,200 0.0% 207,500 0.6% 211,300 1.8%
Information 14,200 1.4% 14,000 -1.4% 13,700 -2.1%
Financial Activities 65,300 2.5% 65,600 0.5% 67,300 2.6%
Professional & Business Services 162,500 2.3% 165,900 2.1% 173,600 4.6%
Educational & Health Services 155,000 2.2% 159,100 2.6% 158,700 -0.3%
Leisure & Hospitality 104,500 3.7% 105,700 1.1% 108,700 2.8%
Other Services 39,700 3.4% 39,900 0.5% 41,000 2.8%
Government 128,000 0.1% 130,200 1.7% 129,900 -0.2%
News on the street
Cincinnati businesses expanding, contracting, etc.
Employment statistics
Cincinnati
Industry employment stratification
Cincinnati
Allos Ventures Ι Consulting Services: Relocating
Cincinnati venture capital firm Allos Ventures is on the move. Allos has moved into larger office space closer to Over-the-Rhine. It's now on the fourth floor of the
building occupied by branding firm Deskey Associates at 120 E. Eighth Street. Allos had been in the Scripps Center at 312 Walnut Street where it shared office
space with Blue Chip Venture Co. Allos is sharing the 5,000-square-foot office in the Deskey building with software developer Differential.
BoxcarPR Ι Public Relations Services: Expanding
BoxcarPR, a public relations firm headquartered in Louisville is opening a new office in downtown Cincinnati. BoxcarPR's new location will be at 652 Main St. The
full-service boutique agency was founded in 2012 and offers a variety of services, including public relations, public affairs, crisis communications, social media
management and creative services. Its clients include Churchill Downs Inc., 21C Museum Hotels and University of Louisville athletics.
FisherBroyles Ι Property/Casualty Insurance Carriers: Expanding
A national virtual law firm has opened an office in Cincinnati, but it may not be familiar to attorneys or clients used to traditional law firms. FisherBroyles opened
offices in Cincinnati, Columbus and Cleveland as part of an expansion into the Ohio market. FisherBroyles was founded in Atlanta in 2002 as the first national cloud-
based law firm. It has since grown to more than 100 attorneys in 15 offices nationwide.
HumaCare Inc. Ι Staffing Services: Relocating
HumaCare Inc., a growing human resources company, is moving its corporate headquarters to Deerfield Township from Loveland. The 48-employee company,
which also has an office in Columbus, has outgrown its 7,000-square-foot office space at 9501 Union Cemetery Road. HumaCare signed an 11-year lease for
14,000 square feet of space in One Waterstone Place, located at 9435 Waterstone Boulevard in the Fields Ertel/Mason submarket.
Mayfield Clinic Ι Physicians: Relocating
The Mayfield Clinic plans to consolidate three of its 10 medical offices and relocate its Avondale headquarters to space now under construction at the Rookwood
Exchange in Norwood. The new headquarters will encompass 45,000 square feet on an entire floor of the eight-story office tower overlooking Interstate 71. About
half of the space will be dedicated to administrative purposes, and the rest is being designed so health providers can examine and treat patients there.
Total Quality Logistics Ι Freight Forwarding Services: Relocating
Total Quality Logistics is in the middle of relocating one of its Milford offices. TQL, a freight brokerage firm and Greater Cincinnati's largest private company with
more than $2 billion in revenue last year, moved about 120 employees to Batavia from a Milford office, located at 502 Techne Center Drive. The new Batavia office,
located 4101 Founders Boulevard, opened in December. Another 80 employees from TQL's Techne Center office are expected to move over starting in February.
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,
211,300, 20%
Professional and
Business Services,
173,600, 17%
Educational and Health
Services,
158,700, 15%
Government,
129,900, 12%
Manufacturing,
109,700, 11%
Leisure and Hospitality,
108,700, 10%
Financial Activities,
67,300, 6%
Other Services,
41,000, 4%
Mining, Logging and
construction,
40,800, 4%
Information,
13,700, 1%