The Daily Money: 'Return to office died in '23.' Remote work is here to stay
Good morning! This is Daniel de Visé with your Daily Money.
Remote work numbers have dwindled over the past few years as employers issue return-to-office mandates. But will that continue in 2024?
Remote work numbers started to slide after the spring of 2020, when more than 60% of days were worked from home, according to data from WFH Research, a scholarly data collection project. By 2023, Bailey Schulz reports, that number had dropped to about 25% ‒ much lower than its peak but still a five-fold increase from 5% in 2019.
But work-from-home numbers have held steady throughout most of 2023. And according to remote work experts, they're expected to rebound in the years to come as companies adjust to work-from-home trends.
“Return to office died in ‘23,” said Nick Bloom, an economics professor at Stanford University and work-from-home expert. “There’s a tombstone with RTO (Return to Office) on it.”
Cruise ship passengers return from the water to . . . more water
It was the last thing Carnival Sunshine passengers expected when they returned to the Port of Charleston on Monday afternoon. Passengers had just endured a rocky cruise to the Bahamas when they disembarked to find a flooded parking lot filled with sodden cars.
Over the weekend, Kathleen Wong reports, the East Coast was pounded by severe weather, resulting in gale-force winds, heavy rains and flooding. By mid-day Sunday, Charleston had received nearly four inches of rain and the tide gauge reached over nine feet.
When passengers arrived at the flooded cruise terminal parking lot, they discovered their vehicles damaged with salt water, if not totally ruined.
“It was pretty upsetting and very overwhelming,” said Kit Herold, a passenger who was onboard with her two teenage daughters.
Herold purchased the four-night cruise as a Christmas present. She drove four hours in her new 2023 Kia Sportage from her home in Forest City, North Carolina, to Charleston for the cruise.
Carnival suggested passengers contact the proper parking authorities while delicately noting that the parking lot was not, in fact, a company facility.
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🍔 Today's Menu 🍔
Christmas Eve falls on a Sunday this year. Some consumers will be out and about grabbing last-minute holiday gifts, while others will be hitting the road to see loved ones.
Those traveling or running errands might be wondering about the food options.
Some companies' Christmas Eve hours, like those for Starbucks and Taco Bell, vary by location. Other chains, like Chick-fil-A, will be closed on Dec. 24 this year (it is a Sunday, after all).
Whether you're looking for a fancy sit-down experience or a fast food restaurant, it is always a good idea to reach out to the restaurant for their specific holiday hours.
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Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.