The number of remote positions offered by New York City companies quadrupled over the past year, and this could just be the tip of the iceberg.
Among the industries that saw the largest increase in remote jobs were administrative, information, and financial services.
This growth has been the trend since the onset of the pandemic, with remote jobs making up just 4% of total job postings in the city at the beginning of 2020. By December of 2021, remote job postings made up 10.6%.
While this is a positive for workers’ pockets, it could lead to a significant shift in the city’s business district and culture.
Remote workers that can live anywhere could lead to less people taking transit, which may cost the city and state millions of dollars in tax revenues.
Additionally, wealthier remote workers who pay the highest tax rates may leave the city for an area that offers a lower cost of living and has more beneficial tax laws.
Because remote working is not going anywhere, companies and governments alike are having to find methods to repurpose their operational models and boost revenue.
For example, retailers could transform their space to accommodate the needs of this growing population of remote workers, while offices may incorporate new amenities and services that entice employees to come into the workspace.
“Simply put, the competition for talent is no longer restricted by proximity,” according to analysis from Epsi from April 2018 to January 2021. “If we look at the posting activity of the `big dogs’ (think Amazon, Apple, Google, etc.), we see that they are now advertising to and swooping up talent from smaller markets. The demand for remote, entry-level workers from these bigger companies casts a wide (and competitive) net.”