According to Nicholas Bloom, a professor of economics at Stanford University, the average New York office worker intends to cut office time by 49% and cut annual city spending to $ 6,730, compared to $ 12,561 in pre-pandemic spending. It will be an expensive change for the city.
New York is the second city after San Francisco in terms of reducing office hours. It was followed by Phoenix, Dallas, Los Angeles, Washington, Miami, and Chicago. All with over 40% less office time.
New Yorkers don’t want to go back to their offices. Only 36% of them have recently returned to office work. Some argue their preferences with the new rhythm and habits they have developed in the pandemic. Others talk about a new house with a garden after they moved to the suburbs during a pandemic to improve their quality of life, what has been called the “donut effect”.
Opposing Stanford’s professor Bloom was Edward Glaeser, a Harvard professor, who argued that “Zoom/Teams will not destroy office work.”
Which professor is right?
