2022 Flex Office Changing Workplace

Office-Using Employment Near Recovery Faring Better than Broader Economy, Office-Using Employment is Nearing Pre-Pandemic Levels in Many Global Markets

Global Office-Using Employment, Millions

Global Markets: Change in Office-Using Employment

Global Office-Using Employment

Forecast

Q3 2021 vs. Q1 2020 Peak-to-Trough

275

6%

Q3 2019 249

5%

3% 3%

250

1% 1% 0%

0%

Q3 2021 247

225

0% 0%

Q2 2020 237

-1% -1%

-3%

200

-5%

-4%

-4%

-5% -5%

-5% -6% -6%

-6%

-7%

175

-8%

-10%

-10%

150

-12%-12%

-15%

125

Source: Moody's Analytics Calculated and Forecasted; Brazilian Institute of Geography and Statistics; Eurostat; French National Institute of Statistics and Economic Studies ; Japan Statistics Bureau; National Bureau of Statistics of the People's Republic of China; National Institute of Statistics (Spain); Statistics Canada; Statistics Korea; U.K. Office for National Statistics