Remote and hybrid workers will impact more than office vacancy rates, according to an analysis by the Federal Reserve Bank of Kansas City.
The report, “Hybrid Work May Pose Challenge To Bars and Restaurants in Parts of the Tenth Federal Reserve District,” stated hybrid work arrangements and a preference for remote work are here to stay. It quoted research suggesting approximately 30% of working days in 2023 took place at home and office occupancy is down at least 40% compared to pre-pandemic levels.
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