May 27, 2022 - Economy

NY keeps WFH vibe as crime spikes

Illustration of an office chair moving from left to right, but slowing down and reversing before it gets all the way across the screen.

Illustration: Brendan Lynch/Axios

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.

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