Tuesday, May 17, 2022

Remote job postings for NYC firms nearly quadrupled in seismic shift

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

“And that’s just the beginning,” said Katherine Wyld, CEO of NYC Partnerships, whose business group analyzed data compiled by numbers firm Emmy Burning Glass.

Administrative, information and financial services are among the major industries that have seen the biggest jump in virtual-work offers amid the coronavirus pandemic.

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

As of last December, there were 25,800 postings of 243,000 jobs for similar work, or 10.6 percent.

Wyld noted that virtual jobs “allow the employee to work from anywhere in the world” – thereby having a seismic effect on the city’s business district and on culture and society.

Fewer individual workers in Manhattan’s downtown and midtown business districts mean less foot traffic to eateries and pubs in the area, potentially leading to other job losses and firm closures.

Katherine Wyld, CEO of NYC Partnerships, doesn’t think the work-from-home trend in New York City will be reversed.
David McGlynn

A city audit estimated that fewer people would be able to take transit even in Manhattan, and that remote workers living elsewhere could cost the city and state exchequer hundreds of millions of dollars in tax revenue.

Wyld expressed concern that the increase in remote options could make it easier for the wealthiest New Yorkers – who pay the highest tax rates to pay for government services in a high-cost city – to flee the Big Apple. Such a threat would require City Hall and Albany to approve more business-friendly policies.

The change in the existing workforce is already dire due to the pandemic.

A survey conducted by the partnership in November found that only 28 percent of Manhattan workers were back at their desks on an average workday and most were still working 18 months away from the pandemic.

And the employees are in no hurry to return to their cubicles.

A recently released national survey by Morning Consult found that 55 percent of respondents who tele-work from home said they would consider quitting their jobs if they were forced to return to their office desks. , before they feel safe.

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On the bright side, a study found that a COVID-induced at-home set-up saved New Yorkers thousands of dollars by eliminating commuting and other daily expenses.

“It’s a big cultural shift, and I don’t see it being reversed,” Wyld said of the work-from-home phenomenon.

“It will require retail and remodeling of old office space for housing and other purposes. It will also require a rethinking of transit and city services, as long-standing commuter patterns will change.

National studies reflect the Big Apple trend, with large tech firms leading the charge in hiring stay-at-home workers.

A study has found that remote work has saved New Yorkers thousands of dollars in commuting costs since the start of the pandemic.
A study has found that remote work has saved New Yorkers thousands of dollars in commuting costs since the start of the pandemic.
Debra L. Rothenberg/Zuma Press Wire

Surveys and studies by job-tracking firms estimate that between 36 million and 41 million Americans will work remotely by 2025, more than double the more than 16.8 million domestic workers employed before COVID-19 hit.

One in six people working remotely is a manager.

A study conducted for the National Bureau of Economic Research estimated that
37 percent of jobs in the United States can be done entirely at home. These white-collar jobs typically pay more than jobs that cannot be done at home and account for about half of all American wages.

Most jobs in finance, corporate management and professional and scientific services can be done at home. In comparison, there may be fewer jobs in agriculture, hotels and restaurants or retail as they need to interact with customers, the analysis said.

“COVID forced the world to become more remote-friendly. Turns out – hiring was no exception,” says an Epsy analysis of the workforce from April 2018 to January 2021.

“Simply put, competition for talent is no longer closely restricted,” Epsey said. “If we look at the posting activity of the ‘big dogs’ (think Amazon, Apple, Google, etc.), we see that they are now advertising and attracting talent from smaller markets. The demand for remote, entry-level workers from these large companies creates a wide (and competitive) net.”

In fact a report from the Hiring Lab called the popularity of remote working “one of the most dramatic effects of the pandemic – and one of its longest-lasting ones.”

In fact the report states, “Remote work has the potential to boost productivity and flexibility.” “For job seekers, it expands opportunities, and for recruiters, it increases the pool of candidates. Plus, it can exacerbate labor market inequalities and in some cases reduce productivity. Is.”

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Of the 243,000 jobs posted in December, 25,800 were for remote work.
It was reported that out of 243,000 jobs posted in December, 25,800 were for remote work.
Getty Images

In fact job postings are now more than twice as likely to mention remote work than they were before the pandemic.

“While remote work is unaffordable in many areas, such as food service and beauty and wellness, it has increased dramatically in areas where it was scarce, such as medicine, finance and law,” the job-posting site said.

Indeed said distance job postings have increased for positions in IT/support, software development, banking and finance, arts and entertainment and education and instruction.

Goodhir, which conducts background checks for firms, said lockdowns during the pandemic that forced people to work from home have largely shifted Americans’ view of remote employment as an option Is.

“Remote work is definitely preferred—and it’s not even close,” found a GoodHire survey of 3,500 American workers last year.

According to the survey, an astonishing 85 percent of Americans said they prefer to apply for jobs that definitely offer remote work or hybrid options, versus jobs that require full-time, in-office work.

Six in 10 respondents said they would take a pay cut to work remotely full-time or move to a new city to work remotely in any capacity.

The overwhelming majority of respondents said that companies that did not offer remote-working arrangements would lose key talent and struggle to attract new employees.

More troubling for those protesting the change, nearly 30 percent of respondents said they “absolutely” would not consider applying for a job that requires them to be in office five days per week.

According to Wylde, the shift to remote work could force some of the city's office space to be converted to housing and other purposes.
According to Wylde, the shift to remote work could force some of the city’s office space to be converted to housing and other purposes.
James Keevom for the New York Post

“We now know that by not offering remote work opportunities, companies are clearly eliminating nearly one-third of the available applicant pool. Amazingly, yes,” the report said.

But there is a silver lining to the Big Apple.

When asked where they would prefer to go, individuals cited New York City as a destination for remote-job options, along with Los Angeles, Chicago, Houston, Phoenix and Philadelphia.

“One thing is clear: If workers are willing to take pay cuts or leave their jobs to maintain a remote lifestyle, employers will have to adjust pretty quickly,” Goodhire said.

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