The national and global economy saw their fair share of fluctuations during the quarter, from geopolitical events and increased interest rates to the ongoing war in Ukraine and recovery from the pandemic. However, signs of activity and demand for office space in Tampa Bay remained relatively constant in light of the negative economic forces globally. The Tampa metro area unemployment rate hit 3.2%, falling 120 basis points (bps) year-over-year (YOY), on the addition of 30,898 jobs, for a job growth rate of 1.2%. In addition, office landlords benefited from steady employment gains in sectors that positively impacted demand. Those sectors included an increase in professional and business services of 4.9% and an information services job growth of 7.7%.