Summer is officially over, and companies’ push to bring more workers back into the office is showing initial signs of working, according to one indicator.
Many employers had over the last several weeks signaled that they would start enforcing return-to-office mandates after Labor Day. A July report from JLL estimated that one million office-based employees in the U.S. were facing mandates that would take effect through the end of the year. “This post-Labor Day jump in occupancy mirrors the pattern from the past three years,” Kastle noted. “If the pattern continues, the Barometer may reach a new, higher base level as more workers return to the office.”
The hybrid model will persist, Doug Duncan, senior vice president and chief economist at Fannie Mae, told MarketWatch. The government-sponsored enterprise recently released a forecast expecting a “mild recession” at the start of 2024.
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