According to recent studies, remote work fuels US economic productivity.
US firms benefit from remote work capacity. According to new studies, work-from-home services businesses like information or finance grew their productivity by 3.3% between 2020 and 2022. On the other hand, sectors like construction and mining didn’t change (Northwestern University’s Robert Gordon and Princeton University’s Hassan Sayed).
According to the National Bureau of Economic Research survey:
“WFH respondents assess their own productivity as substantially higher than their expectations, which may provide a comparison between the productivity of WFH activity compared to the productivity of the same individuals in their previous office environments.”
The reasons behind this productivity growth are numerous. First, people prefer workplace flexibility and tend to deliver more to keep flexible schedules. Second, distributed teams allow relocating into more affordable locations. And employees can achieve a better work-life balance and be more efficient at work.
So, remote work is pushing up US economic productivity. And as the trend grows, people are adapting to new habits, creating different work environments to combine better productivity and work-life balance.