Journal Article

Out of the Office, Into a Financial Crisis?

Abstract: For decades, the office has offered an alternative to the manual labor that defined work for most of human history. But it came with its own set of headaches for workers. Those headaches have provided fuel for movies like Office Space and The Devil Wears Prada and TV shows like Severance and The Office. The COVID-19 pandemic gave many Americans the chance to live out their dreams of escaping their commutes and the annoyances of the modern workplace. In the initial months of the pandemic in 2020, most offices shut down. More than 60 percent of all paid full days were worked from home.

Keywords: commercial real estate; remote work; pandemic;

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2023

Volume: 23

Issue: 2Q

Pages: 4-7