Remote job postings for NYC firms nearly quadruple in seismic shift

[Kamaji]

Remote job postings for NYC firms nearly quadruple in seismic shift

By Carl Campanile
January 16, 2022

New York City firms offered nearly quadruple the number of remote jobs to new applicants in the past year, according to data obtained by The Post.

“And this is just the beginning,” said NYC Partnership CEO Kathryn Wylde, whose business group analyzed figures compiled by the numbers firm Emsi Burning Glass.

The key industries with the highest jump in virtual-work offers amid the coronavirus pandemic included administrative, information and financial services.

In early 2020, there were 6,700 out of 163,000 postings for city jobs that could be filled by remote workers, or 4 percent of the total.

By this past December, there were 25,800 out of 243,000 jobs postings for the same work, or 10.6 percent.

Wylde noted that the virtual jobs “allow the employee to work from anywhere in the world” — leading to a seismic impact on the city’s business district and culture and society as a whole.

Fewer in-person workers in the Manhattan Downtown and Midtown business districts mean less foot traffic for eateries and pubs in the area, potentially leading to other job losses and firm closures.

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Source:  https://nypost.com/2022/01/16/remote-job-postings-for-nyc-nearly-quadruple-in-ground-breaking-shift/

[Kamaji]

It doesn't just mean potential armageddon for restaurants and bodegas, it could spell catastrophe for a lot of office real estate.  So far, office landlords haven't felt the hit too much because commercial leases tend to be for multiple years, and a lot of companies have continued to pay the rent bill for their empty offices because they weren't paying rent for their employees' home offices.  As those commercial leases begin to expire, however, things will change.