- Average hourly earnings rose 0.4% in October, and 4.9% over the past year.
- Consumer prices rose 0.9% in October, and 6.2% over the past year.
According to Partnership for New York City’s latest survey, just 28% of Manhattan office workers are back in their offices. This is quite a disappointment, considering that their June survey found that 62% of workers were expected to return by the end of September.
What happened? 48% of respondents said that COVID-19 was a primary factor in the slow return, followed by employee preference for remote work (33%), and childcare issues (14%).
Real estate has the highest daily attendance (77%), followed by financial services (27%), and law firms (27%). Way to go, real estate!
The future doesn’t look much better, with just 49% of workers expected back by the end of January 2022. Another scary finding was that 34% of the companies surveyed expect a reduction in their NYC office space in the next five years.
If Jojo, Sweet Loretta Martin, and Paul McCartney could all get back, it shouldn’t be taking Manhattan office workers so long to do the same. So, get back to where you once belonged, New York City’s economy is counting on you.