The Blubber

Per Bloomberg

Some major cities in the US saw an increase in the number of remote-friendly roles. This was true for places like Atlanta, Chicago, and New York.

After remote work became compulsory for most positions during the pandemic, the trend is declining in major tech companies like Meta and Google, which are trying to bring their workforce back to the office. Other cities like Lansing, Michigan, said that 39% of job postings were for remote positions.

Despite that, there has still been an increase in remote-friendly postings in some major US cities. London School of Economics doctorate candidate and research team member Peter Lambert gave a statement regarding those cities and their relation to remote work.

Lambert: “Those cities with a greater white-collar workforce, especially in government, tech, and education, have the highest share of new jobs offering remote and hybrid arrangements,”

On the contrary, other cities saw the least number of remote job posts, including Bradenton, Florida, which only had 3% of its job postings being remote. The South saw nine of ten metro areas with the "lowest share of job ads" for remote or hybrid positions.

Other places saw a decline in job postings for remote work, like San Jose, which saw a decline from 20% remote positions in December to just 15% in February. San Jose has the largest concentration of tech workers.

The Feds have found a relationship between remote work and housing prices. It was noted that 60% of the pandemic markup for houses was due to increased prices with the increase of remote work, increasing 24% for a two-year period ending November 2021.

It saw that 1% of remote work equals a 0.9% increase in house prices. In October 2022, a survey of 1,300 CEOs said that their least priority was remote workers.

See flow at unusualwhales.com/flow.

Other News:

• FED Study Found 1% Increase in Remote Work Equals 0.9% House Price Increase, Shift Attributed to 60% of the Pandemic Markup
• Over 50% of CEOs are Thinking of Downsizing—Remote Workers to be the Least Priority

Resources:

Bloomberg