The Columbus metro saw modest job growth according to the latest figures from the BLS, adding 8,300 payrolls, annually. Meanwhile, unemployment remains virtually unchanged from the previous month at 3.7 percent, one of the lowest in the U.S.

1. Office employment trends (12-month change)
Columbus
Total jobs vs. Unemployment rate
Columbus
Office employment update
Metro Columbus . February 2015
Cost containment remains key for most tenants in the Columbus market. Many
businesses continue to operate with a lean workforce. Real estate is generally
the second largest expenditure for companies after personnel costs, so
tenants are continuing to keep a close eye on their office space and look for
opportunities to consolidate or condense their operations as they manage
expenses. Columbus-based Huntington Bank’s recent announcement that it
would eliminate nearly 200 positions amid efforts to control rising personnel
costs is a common example of such cost containment strategies.
The government sector has long played an important role in the capitol city
and along with professional and business services, has historically accounted
for the largest portion of office-occupied space, reaching its highest peak in
2013 at just over 163,000 employees in December. The majority of
government entities are located in the CBD, and occupy more than four million
square feet of space, most of which is owner-occupied.
Office real estate implications
Job growth/loss by sector (12-month change)
Columbus
-3,100
-200
0
400
600
900
1,000
1,200
2,500
5,000
-4000 -2000 0 2000 4000 6000
Financial Activities
Information
Manufacturing
Professional & Business Services
Government
Other Services
Mining and Logging
Leisure & Hospitality
Trade, Transportation & Utilities
Educational & Health Services
Number of Jobs
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
780,000
800,000
820,000
840,000
860,000
880,000
900,000
920,000
940,000
960,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Peak: 951,110 jobs
2.6%
Total Employment Unemployment
Sources: Jones Lang LaSalle Research, Bureau of Labor Statistics
3.7%Columbus unemployment
0.8%Columbus12-month job growth
5.7%U.S. unemployment
2.3%U.S. 12-month job growth
• The Columbus metro saw modest job growth according to the latest
figures from the BLS, adding 8,300 payrolls, annually. Total non-farm
employment now sits at roughly 1 million jobs. Meanwhile,
unemployment remains virtually unchanged from the previous month at
3.7 percent, one of the lowest in the U.S.
• The office employment sector, though, continued its struggle towards
positive jobs growth, dropping 2,300 from payrolls, annually due to the
drag in the finance sector. Professional and business services enjoyed
some employment gains, adding 400 jobs, year-over-year. As mentioned,
financial activities continued its now year-long streak of negative jobs
growth, dropping 3,100 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.
(15.0)
(10.0)
(5.0)
0.0
5.0
10.0
15.0
20.0
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 • Columbus Office Employment Update 2
December 2012 December 2013 December 2014
Total Non-farm
Employment
979,400
3.1%
992,600
1.3%
1,000,900
0.8%
Unemployment Rate 5.7% 5.9% 3.7%
Columbus Supersectors December 2012 December 2013 December 2014
Mining, Logging and Construction 29,400 1.7% 32,100 9.2% 33,100 3.1%
Manufacturing 67,300 2.7% 67,300 0.0% 67,300 0.0%
Trade, Transportation, & Utilities 192,300 1.4% 195,400 1.6% 197,900 1.3%
Information 17,700 4.7% 18,300 3.4% 18,100 -1.1%
Financial Activities 74,400 3.9% 75,500 1.5% 72,400 -4.1%
Professional & Business Services 165,300 5.3% 164,200 -0.7% 164,600 0.2%
Educational & Health Services 137,900 2.4% 138,800 0.7% 143,800 3.6%
Leisure & Hospitality 93,400 5.7% 97,500 4.4% 98,700 1.2%
Other Services 37,700 6.8% 37,600 -0.3% 38,500 2.4%
Government 164,000 1.4% 165,900 1.2% 166,500 0.4%
News on the street
Columbus businesses expanding, contracting, etc.
Employment statistics
Columbus
Industry employment stratification
Columbus
First Merchants Corp. Ι Banks & Credit Unions: Expanding
First Merchants Corp. (NASDAQ: FRME) , the operator of Commerce National Bank in Central Ohio, is expanding its area presence with an acquisition that
continues a string of banking buyouts in the region. Muncie, Indiana-based First Merchants recently agreed to pay $14.5 million in cash for all outstanding shares of
C Financial Corp., the parent of Dublin-based Cooper State Bank. The agreement follows four other Columbus-area acquisitions over the past year.
Nationwide Mutual Insurance Co. Ι Property/Casualty Insurance Carriers: Consolidating
Nationwide Mutual Insurance Co. will move 175 mortgage banking jobs from Des Moines, Iowa, to Central Ohio and fold the division into Nationwide Bank. The shift
will take place by the end of 2016 and is part of Nationwide's efforts to streamline operations. The company has not decided where in Central Ohio the positions will
be housed. Nationwide Bank, launched in 2006, is headquartered at the One Nationwide tower downtown.
Status Solutions LLC Ι Consulting Services: Expanding
Status Solutions LLC projects sales could increase by one-third next year as a growing list of new industries have begun to purchase its automated alert and self-
service communications software packages. Status Solutions moved its executive offices into a 15,000-square-foot office at 999 County Line Road in Westerville,
more than seven times the size of its original Westerville office and projects to add 30 new jobs over five years as well as a demonstration studio for its systems.
Tim Hortons Ι Specialty Eateries: Contracting
Tim Hortons is cutting jobs at its corporate headquarters in Canada as well as its U.S. headquarters in Dublin in the wake of its merger with Burger King. The
statement didn't specify the number of cuts and company representatives declined to comment. The Oakville, Ontario-based coffee-and-doughnuts chain had about
120 workers in Dublin last year. According to officials, the cuts will allow the chain to be faster, more efficient and better positioned for continued success.
Time Warner Cable Inc. Ι Wired Telecommunications Services: Expanding
Time Warner Cable Inc. (NYSE: TWC) plans to add about 130 sales jobs in Central Ohio next year, following 200 additions in 2014. According to representatives,
the growth in what it calls "inbound sales" – call center representatives who sell Internet, cable TV, phone and security services and provide customer services – is
just one area where Time Warner is adding jobs. The cable and broadband provider has been growing its Ohio work force for the past few years.
Wondersauce LLC Ι Advertising Agencies: Expanding
New York-based digital creative agency Wondersauce LLC now has an office in Columbus and has landed fast-growing apparel merchant Homage LLC as its first
client. The digital agency has 50 employees in New York and has hired six in Columbus with hopes of being at 12 workers by year-end. Its office will open in March
and is located in the space above the Martini Modern Italian restaurant near the Short North.
Cody Brooks
Research Analyst
tel +1 614 460 4444
Cody.Brooks@am.jll.com
65 E State Street,
Suite 550
Columbus, OH 43215
www.jll.com/columbus
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,
197,900, 20%
Government,
166,500, 17%
Professional and
Business Services,
164,600, 16%
Educational and Health
Services,
143,800, 14%
Leisure and Hospitality,
98,700, 10%
Financial Activities,
72,400, 7%
Manufacturing,
67,300, 7%
Other Services,
38,500, 4%
Mining, Logging and
construction,
33,100, 3%
Information,
18,100, 2%