The work-from-home boom will lift productivity in the U.S. economy by 5%, mostly because of savings in commuting time, the study says. The findings suggest the rapid adoption of new technology amid the pandemic will offer lasting economic gains, helping to boost sluggish productivity that has long weighed on global growth.
Not everyone is a fan of remote work. Goldman Sachs Group Inc. Chief Executive Officer David Solomon has called the new arrangements “an aberration” that the investment bank will “correct as quickly as possible,” arguing that it’s especially crucial for new recruits to absorb the Wall Street culture.