US Administrative and Waste Management Services Sector NAICS 56

May 6, 2026 - Office Glut Poses Challenges for Building Services Industries

• America's distressed office market is seeing dramatic price drops, with some buildings selling for more than 90% below their previous values, according to The Wall Street Journal. Higher-quality properties have fallen roughly 35% from their peak, according to Green Street, an analytics firm. More than 90,000 apartments nationwide are being converted from offices, up 28% from a year earlier. The trend is reshaping the building services industry, creating major uncertainty for pest control, janitorial, landscaping, and carpet and upholstery cleaning companies. As office buildings are repurposed into residential units or sold at steep discounts, service contracts will shift significantly, forcing providers to adapt their business models to capture new residential and mixed-use opportunities.
• A recent Zety survey of 1,001 hiring professionals found that recruiters are increasingly scouting candidates in unconventional settings amid a flood of applicants, according to reporting by HR Dive. Some 59% said they feel comfortable finding candidates outside of work, and 52% said they have already done so in places such as restaurants, grocery stores, gyms, concerts, and dating apps. Popular talent pools include non-LinkedIn social media and social events like parties, where recruiters notice strong communication and interpersonal skills. Some 84% said off-the-clock encounters produced stronger candidates than formal channels. Still, 14% called the practice "very risky" regarding professional boundaries, and 41% called it "somewhat risky." A Glassdoor report noted that AI-generated applications have increased recruiter workloads, while a Monster report found that opaque hiring practices have led job seekers to apply to many positions at once.

• A new University at Buffalo study finds that people across the US generate similar amounts of plastic packaging waste regardless of income, education, or location. Still, recycling rates vary widely due to unequal access to infrastructure, according to Resource Recycling. Published in Nature Communications Sustainability, the research shows wealthier, more educated communities are typically closer to industrial recycling facilities, while lower-income areas often lack access. Most residents in high recycling regions live within 30 miles of such facilities. The US trails Europe, recycling 14% of plastic packaging compared to 42.1%, and regional gaps persist, especially in the South and rural states. The findings highlight how limited infrastructure shapes outcomes and underscore significant implications for the recycling industry, including opportunities to expand access and improve system equity.
• Despite low unemployment and solid retail sales, Americans are deeply pessimistic about the economy, according to The Wall Street Journal. An April University of Michigan survey found consumer sentiment fell to 49.8, its lowest level in more than 70 years, with declines across political affiliation, income, age, and education. An Associated Press-NORC poll in April found 73% of Americans think the economy is performing poorly, and 64% of Michigan survey respondents expect unemployment to rise within a year. Economists warn that sour public perception can itself slow economic activity. Contributing factors include rising gasoline prices, unpredictable tariff policies hurting small businesses, and sluggish hiring. Unemployment expectations have remained at recession-level highs for a year. While hard data, including strong March retail sales and low jobless claims, do not yet confirm a recession, Americans across income levels are cutting spending and bracing for a tougher job market.