“The idea is that businesses were still expanding, despite the uncertain economic picture,” he said.
That news, coupled with positive economic indicators since the start of the year, has fed a sense of optimism about the region’s businesses, Kyser said.
“There is a recovery underway, although I don’t think a lot of people realize it,” Kyser said.
The number of businesses in the Los Angeles area willing to hire has increased as more job postings hit the Internet in March than in any month over the last year, according to a report from Monster Worldwide, which surveys an array of online job boards and corporate ads.
The job listings figure, according to the Monster index, was up 9% from a year ago, a substantial shift and the first positive year-over-year change in area job postings since 2007.
“That is obviously very significant for the market,” said Jeff Quinn, a research director for Monster Worldwide.
That indicator, including those reflecting steady or declining unemployment, is giving economists confidence, experts said.
One result could be a change in office vacancy rates, which could already be in the works as businesses show more confidence and interest in hiring, industry observers said.
Glendale’s office vacancy rate was about 19% in January, while Burbank’s was about 18%, according to real estate reports. But recent economic trends have led to more confidence in the commercial market, said Mark Miller, vice president of Stevenson Real Estate in Glendale.
Building tours and tenant renewals have surged over the last six weeks, said Miller, whose company manages an 80,000-square-foot property at 411 N. Central Ave. in Glendale.
“We just seem to have a lot more interest,” Miller said.
