One of the biggest changes the pandemic brought to the U.S. economy and the daily lives of Americans was the rise of work from home (WFH). Tens of millions of Americans stopped going to the office and instead performed their job functions from their home office, or kitchen table, or bedroom (or the beach). As the economy opens back up again, many of these workers are returning to the office.
How many workers return, and how quickly, will have major implications for office real estate markets over the next few years. I took a deep dive into survey data that the Bureau of Labor Statistics (BLS) has been gathering along with the traditional monthly employment report, and which provide detailed information on who has been teleworking because of the pandemic.