Empowering Remote Work

Scott Lincicome and Ilana BlumsackEver since the Covid ‐​19 pandemic upended our lives, remote work has blossomed. Online job search company Ladders, for example, recentlyfound that remote work opportunities in the summer of 2022 accounted for 36 percent of job openings on the site. And while remote work has declined since its Spring 2020 peak, the arrangement remains far more common today than it was before the pandemic (see Figure 1). New research from Stanford ’s Nick Bloomshows that this substantial, three ‐​year rise is the equivalent of50  years of pre ‐​pandemic remote work growth.Remote work not only helped Americans weather the pandemic, but also spawned broader benefits for millions of American workers and the U.S. economy. For example, it gave many people the freedom to move and live where they want to live, not simply where their employer is located. One 2022 surveyfound that 11.7 percent of workers had moved or were planning to move because of remote work, a  figure that corresponds to over 24 million Americans nationwide. Another found that 76 percent of remote workers preferred the arrangement over in‐​person work, and it has proven particularly popular among parents, who can more easily juggle work and family obligations. One recent studyfoundthat many workers are willing to trade wage increases for remote work because they so value the amenity.Beyond the potential wage savings, many employers derive other benefits from remote work and have...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs