While just 5% of the workforce in the US worked from home prior to the pandemic, 20% are expected to work from home permanently.
Read the paper Why Working from Home Will Stick.
- 45% of jobs can be done remotely so there is still much room to grow.
- Two-thirds of remote workers want to continue to work remotely but not everyone who wants to continue to work from home will be able to.
- Not having to commute for five hours is equivalent to a 10 percent raise and the paper notes a 4.6% increase in productivity (although that is debatable).
- The 20% will be mostly highly educated workers leading to growing inequality due to remote work.
Links to this note
§ What Is the Market Value of Working Remote?
We can come up with a valuation of remote work by looking at a few signals: what you would forgo, what do you gain, what others gain, and what others lose.
It’s becoming clear that remote work isn’t going anywhere. A large portion of the workforce continues to work from home. Return to office stagnated. Office real estate value is plummetting.