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NYC Office Market Faces Uncertainty Post-COVID 19

Commercial Observer magazine's "Class A Meet Plan B: How the Coronavirus Could Impact NYC's Newly Built Office Space" explains that the post-COVID 19 pain for the Big Apple's office space market goes deeper than construction; it includes absorbing the space that failed businesses will leave behind. Compounding the problem will be a post-disaster historically cautious survivor's market, which will tend toward renewing existing space rather than upgrading to bigger and better space.

Construction Loses Record-Breaking 975,000 Jobs in April

Despite the fact that a number of states have declared construction an "essential service" that has allowed job sites to remain open, Construction Dive reports that the construction industry lost 975,000 jobs from March to April. The brief uses stats from the Associated General Contractors, which calls the 13 percent overall workforce drop the worst in the industry's history.