- Study is from Stanford's Institute for Economic Policy Research
- 42% of U.S. workers are currently working from home (WFH)
- Those workers account for two-thirds of U.S. economic activity
Workers in the U.S. have rapidly adapted to changes brought on by the Covid-19 pandemic. According to a recent study, titled "How Working From Home Works Out", some of the changes it has brought on are likely to become permanent.
Here are a few of the facts presented in the study:
Only one-third of those working from home are able to achieve 100% efficiency. Another 30% say they cannot do their jobs at home. This means that at least one-third of the WFH workforce is hampered due to a lack of efficiency.
Nearly 50% of the WFH workforce is using a designated room that is not their bedroom. 26% are working from their bedroom, and another 24% are working in a shared room.
The average WFH worker tends to be better-educated and have a higher than average income. 57.8% have a college degree, and 60% are in the highest 25% of income.
What conclusions can we draw from this information?
Since many companies are moving to WFH on a semi-permanent or permanent basis, a home office will become a necessity for many in the workforce. This should generate demand for larger homes.
WFH doesn't need to happen in a specific location, but it does require fast, dependable internet service. Availability of broadband in all parts of the country should now become a priority.