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You are here: Home / City Hall / Remote Work Costs Manhattan More Than $12 Billion

Remote Work Costs Manhattan More Than $12 Billion

February 13, 2023 at 10:55 am EST By Taegan Goddard Leave a Comment

Bloomberg: “Three years into the pandemic, business leaders and city officials around the world are still trying just about everything to lure employees back into offices and revive local economies. But new data on in-person work analyzed by Bloomberg News show that in a number of cities across the US, Fridays at the office are dead. Mondays are a crapshoot. And returning to pre-pandemic work schedules looks like a lost cause.”

“Nowhere is the economic cost of remote work more pronounced when it comes to spending than in the world’s leading financial center: New York. Manhattan workers are spending at least $12.4 billion less a year due to about 30% fewer days in the office.”

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Filed Under: City Hall, Economy

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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