Report Return to office is ‘dead,’ Stanford economist says.

[tom_mai78101]

The share of workers being called back to the office has flatlined, suggesting the pandemic-era phenomenon of widespread remote work has become a permanent fixture of the U.S. labor market, economists said.

“Return to the office is dead,” Nick Bloom, an economics professor at Stanford University and expert on the work-from-home revolution, wrote this week.

In May 2020 — the early days of the Covid-19 pandemic — 61.5% of paid, full workdays were from home, according to the Survey of Working Arrangements and Attitudes. That share fell by about half through 2022 as companies called employees back to in-person work.

However, the story has changed in 2023.

The share of paid work-from-home days has been “totally flat” this year, hovering around 28%, said Bloom in an interview with CNBC. That’s still four times greater than the 7% pre-pandemic level. The U.S. Census Bureau’s Household Pulse Survey shows a similar trend, he said.

Return to office is ‘dead,’ Stanford economist says. Here’s why

The share of workers being called back to the office has flatlined, suggesting remote work is an entrenched feature of the U.S. labor market.

www.cnbc.com

 

[The Helper]

This is opening up the opportunity for people to hold multiple jobs at a time. Something that I believe is already happening.