https://finance.yahoo.com/news/jpmorgan ... 15020.htmlDimon called the office a “rainbow room” and said that workers who stayed home were denying themselves "opportunities to meet other people." The JPMorgan CEO argued that "if you live in certain parts of our country and go eat out there, it is all white," meaning remote workers may end up having a more uniform experience than if they traveled into work.
Studies report that minorities, especially Black and Hispanic workers, are teleworking at lower rates than White workers. One April study from the U.S. Centers for Disease Control and Prevention found that 19% of Black and 14% of Hispanic workers engaged in telework, compared to 24% of White workers and 38% of Asian workers. The CDC study argues that the difference stemmed from lower rates of college education among minority populations, as well as overrepresentation of Black and Hispanic workers in jobs that don't allow for remote work.
A survey from the Society for Human Resource Management last September reported that half of Black office workers wanted to work from home, compared to 39% of White workers and 29% of Hispanic workers.
CEOs, real estate developers, and even city mayors have called for workers to return to the office. Developer Stephen Ross predicted in June that a recession might make "people fear that they might not have a job [and] that will bring people back to the office.” But workers want to stay home. The Slack-funded Future Forum found in July that only one in five knowledge workers wanted to return to the office, a record low.
Nationally, office occupancy rates are hovering around 43%, according to Kastle Systems, a security company.
Remote work is the stepping stone to offshoring jobs. As a result office space in the top cities is going to continue being under utilized. This sector of the real estate market is ripe for consolidation
