The shift to remote work during the pandemic will lift productivity in the U.S. by 5 percent post-pandemic because of increased productivity and reduced commuting time, a survey finds.
The research by the Hoover Institution also found that 20 percent of workdays after the health crisis subsides will be conducted remotely, compared with 5 percent before outbreak.
The reasons for continuing remote work were the better-than-expected remote-work experiences, investment in physical and human capital for remote work, diminished stigma associated with remote work, lingering concerns about crowds and contagion and technological innovations that support remote work, the study said.
In addition to lifting the economy, the report found that highly educated and well-paid workers will be the ones who will have greater ability to work from home post-pandemic. The researchers also predict that the shift to remote work will reduce spending in major city centers by at least 5 to 10 percent compared with pre-pandemic spending.
The paper, co-authored by Jose Maria Barrero of the Instituto Tecnológico Autónomo de México, Nicholas Bloom of Stanford University and Steven J. Davis of the University of Chicago Booth School of Business and Hoover Institution, polled more than 30,000 Americans.