These office markets may see biggest impact from remote-work adoption - Phoenix Business Journal

  • 📰 phxbizjournal
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Between 2019 and 2021, the number of people primarily working from home tripled from 5.7%, or about 9 million people, to 17.9%, or 27.6 million people, according to recent U.S. Census Bureau data.

It found, between 2019 and 2021, the number of people primarily working from home tripled from 5.7%, or about 9 million people, to 17.9%, or 27.6 million people. That's correlated with a drop in commute time, as also found in the ACS results. The average one-way travel time to work dropped to 25.6 minutes in 2021, among the shortest times in the past decade and two minutes shorter than the average of 27.6 minutes in 2019.

More data from 2022 and ensuing years will be necessary to determine how far of a reach working from home will have in markets nationally. But it's increasingly clear one of the biggest permanent changes from the pandemic is adoption of remote work. Redmond, Washington, saw the highest share of reported remote workers in 2021, at 55.2%, among U.S. cities with relevant ACS data. Only 3.7% of ACS respondents in Redmond indicated they were remote workers in the 2019 survey.

The push toward more people working remotely has significant implications for the office markets of MSAs seeing the biggest gains in remote workers, especially city centers. Given D.C.'s economy is largely concentrated in government and business-oriented fields — historically heavy users of office space — the higher share of remote workers, if the trend sticks, will have outsized ripple effects on vacancy and demand. The same is true of other metros seeing big spikes in remote workers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 254. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

First look: Deloitte's new Tempe office opens at 100 Mill - Phoenix Business JournalDeloitte's Arizona marketplace leader and managing partner said the firm's new Tempe space on the 18th and top floor at 100 Mill embodies more of a center or community hub. Besides having impressive views of Tempe Town Lake, the space has a variety of workspaces and meeting rooms for employees.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Bezos, Iger, Ellison among suspected Phoenix Suns buyers - Phoenix Business JournalAfter Robert Sarver announced he will sell his majority share of the Phoenix Suns and Mercury, many media outlets are speculating on who may be the frontrunner to buy the teams.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Town south of Phoenix approves rezoning 1,600 acres for potential industrial development - Phoenix Business JournalThe massive site is located close to the proposed LG Energy Solution battery plant and sites eyed by such companies as Samsung and Rivian.
Source: phxbizjournal - 🏆 254. / 63 Read more »