Remote Working Is Keeping The U.S. Economy Afloat

The transition to remote working has kept those in necessary industry sectors to continue doing their jobs and helped keep the U.S. government tax revenue from total collapse.

According to analysis from CoinDesk, at least half of our economy should be able to continue at the same strength for at least six more weeks with remote working. Additionally, the analysis found that around 48% of the $17.8 trillion of U.S. national income in 2019 came from industries that have the ability to be done remotely, such as finance, insurance, real estate and others. With practice, the ability to work from home is expected to become more seamless and will allow people to perfect their jobs remotely.

“There’s a pretty significant chunk of people who, before the coronavirus, worked at their desks in an office,” said Beth Ann Bovino, chief U.S. economist at Standard & Poor’s. “Now it’s just transplanted to working at home.”

Without remote working, chief U.S. economist at TS Lombard Steve Blitz said things would have been much worse. Technological advancements have been essential to this transition and once niche resources, such as Zoom and Slack, have experienced a huge boom in usage.

According to a blog post written by Slack CEO Stuart Butterfield, the company had a record 12.5 million simultaneously connected users on March 24, marking a 25% increase in two weeks.

Remote working could change how people work after the coronavirus pandemic has calmed down. With employers seeing how much can be done from home, they might be more inclined to adopt this new way of working.