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Friday, December 22, 2023

The Daily Money: 'Return to office died in '23.' Remote work is here to stay

Remote work numbers have dwindled over the past few years as employers issue return-to-office mandates. But will that continue in 2024?

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Fri Dec 22 2023

 

Daniel de Visé Personal Finance Reporter

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."

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Passengers disembark from the Carnival Sunshine cruise ship Monday, March 16, 2020, in Charleston, S.C.

Mic Smith

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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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.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Joey Chilelli, managing director of Vanbarton Group, LLC, stands outside 160 Water Street in Manhattan, which is being converted from an office tower to a residential building

Remote work numbers have been dwindling over the past few years as employers issue return-to-office mandates. But will that continue in 2024?

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Passengers disembark from the Carnival Sunshine cruise ship Monday, March 16, 2020, in Charleston, S.C.
 

Carnival cruisers find cars flooded upon disembarking

After a rocky cruise in bad weather, cruise passengers returned to port only to find some of their cars totaled by flooding.

14. Honda Odyssey     • Pct. of cars over 200,000 miles:  3.2% Along with the Toyota Sienna, the $34,000 Honda Odyssey is a best-selling minivan in the United States. The Chrysler Pacifica (and its base sibling, the Chrysler Voyager) outsold the Honda Odyssey by just 15 vehicles in the United States last year, according to Newsweek, pushing the Odyssey to third place.     ALSO READ: This Is the Car With the Worst Technology
 

Honda recalls 2.5 million vehicles: Here's which models are affected

More than 2.5 million cars are affected by the recall involving faulty fuel pumps, including some Accord, Civic, CR-V and Acura vehicles.

This photo provided by Toyota Racing shows the Toyota Supra Funny Car. On Sunday, Nov. 14, 2021, Toyota unveiled the GR Supra it will use in the 2022 NHRA season, ending a 10-year run with the Camry in Funny Car competition. (Mark Rebilas/Toyota Racing via AP)
 

Which vehicles were recalled by Toyota in 2023? See the full list here

Check the full list of Toyota recalls for 2023 to see models and model years affected.

A photo taken on Nov. 23, 2023 shows the logo of the ChatGPT application developed by U.S. artificial intelligence research organization OpenAI on a smartphone screen (L) and the letters AI on a laptop screen in Frankfurt am Main, western Germany.
 

AI death calculator: This computer model predicted deaths

Danish researchers created the life2vec machine-learning computer model, which was able to correctly predict the deaths of millions.

SAN FRANCISCO, CA - DECEMBER 05:  US Postal Service letter carrier Juan Padilla arranges mail in his truck while on his delivery route on December 5, 2011 in San Francisco, California. The US Postal Service announced today that they are considering a plan to eliminate the first class next-day delivery for stamped letters as well as closing half of its 487 mail processing plants across the country in an effort to cut costs and avoid bankruptcy.  (Photo   by Justin Sullivan/Getty Images)
 

Are banks, post offices, shipping services open on Christmas? What to know

Will banks, post offices and shipping services be open on Christmas Eve and Christmas Day 2023? Here's what you need to know.

A Dunkin Donuts at Allegiant Air's new concourse at the Destin-Fort Walton Beach Airport, Florida.
 

Which restaurants are open Christmas Eve 2023? Here's what to know

Whether you're looking for fast food or a sit-down place, you'll have options on Christmas Eve, but some places may close early. Here's what to know.

Dina Younis is a professional thrifting influencer who operates Dina's Days.
 

How to thrift and spot potential treasures with a big payoff

Thrifting is no longer taboo. You can find great things for yourself or maybe even spot a treasure for a big payoff. Here's some tips.

stethoscope resting on hundred dollar bills
 

$200? $300? How much FSA money did you leave on the table this year?

If you have money sloshing around in a Flexible Spending Account, you may be feeling some pressure to spend it by December 31.

A bilboard announcing the launch of Paramount's streaming service is pictured on Sunset Strip in West Hollywood, California on March 2, 2021.
 

Warner Bros. and Paramount might merge. What it will cost you.

The merger would combine two of the media industry's biggest players. It would also set off a wave of consolidation among streaming services.

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