At least three different newspaper titles pushing the "slow return of the office economy" data with varying degrees of emotion/ anger. A few thoughts on the economics of home-working and the risk this becomes another leg of the culture war /1
Firstly, in the short-run good management teams with decent MI can benchmark WFH and office-based output (Long term this is less sustainable as staff turnover increases). Where output is harder to quantify then replacing "facetime" with remote management techniques is progress /2
Secondly, the complemetary economy (largely hospitality) is being displaced by greater WFH as shown in recent @Cebr_uk report. No-one is smart enough to know how persistent this shift will be. The wisdom of extending JRS & business rate/ VAT cuts will hinge on this judgement /3
Thirdly, the "just get back to the office" clamour excludes two important conditions: 1) Confidence in test, track & trace is the key enabler. 2) There appears to be a "speed limit" to the pre-vaccine economy. Office commutes displace other less flexible economic activities /4
Finally, the culture war of white collar workers (including civil servants & bankers) causing hardship for blue collar workers is to simplify the complex interdependency of public health, behavioural shifts & economic spillovers. Anyone purporting simple answers is best ignored.
You can follow @shjfrench.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: