The Blubber

The average worker in New York City is spending $4,661 less per year on meals, shopping and entertainment near work as a result of the new three-day workweek, per Bloomberg. That compares to $3,040 in San Francisco and $2,387 in Chicago.

Manhattan workers are spending at least $12.4 billion less a year due to about 30% fewer days in the office, according to a Bloomberg News analysis.

Only 6% of Londoners previously able to work from home said their employers expect them to be in the office five days a week, according to a report from the mayor’s office. And last year, about 14% of jobs posted in all of Tokyo’s 23 wards were mostly remote, compared with 3% in 2019, according to job site Indeed.

“Less spending by workers in the central areas means a lot less sales tax revenue,” said Jose Maria Barrero, a professor at Mexico’s Instituto Tecnologico Autonomo and researcher with the WFH group who calculated the figures for Bloomberg. “If you have fewer commuters, that means less revenue.”

From June to December 2022, rides in NYC taken on Mondays and Fridays reached only around 33% and 38% of pre-pandemic levels, respectively, according to HQ data of about 400,000 rides over the last three years. On Thursdays, that rises to roughly 43%, per Bloomberg.

See full article: https://www.bloomberg.com/graphics/2023-manhattan-work-from-home/?utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&cmpid=socialflow-twitter-business