May 27, 2022 - Economy & Business
NY keeps WFH vibe as crime spikes
New York workers are dragging their feet in returning to the office, and crime is a reason why.
Driving the news: Office occupancy rates are languishing well below the national average, the New York Post reported this week. That's a drag on businesses that rely on foot traffic, and subway ridership struggling to recover from the pandemic.
- Ex-investment banker and author Carol Roth told Axios recently that there's a "high degree of uncertainty for those businesses who depend on in-person foot traffic."
Why it matters: The Big Apple is in the throes of a crime wave that’s diminishing the appetite of workers who, while perhaps fatigued by remote work, are worried about an overall deterioration in public safety, delaying the city's revival.
Yes, but: Labor Department data shows a slow but steady decline in remote work, suggesting that more workers are opting for in-person work, even if it's hybrid.