Office attendance is on the rise post Labor Day, with some companies requiring employees to be present in the office full-time.
The current status of office attendance in New York City is a key indicator of the city’s recovery post-pandemic. The phrase “return to office” was once a hot topic but has seemingly faded in recent months. However, various sources provide conflicting estimates of office attendance levels. According to Kathryn Wylde, president of the Partnership for New York City, office attendance has stabilized at around 75 percent of pre-pandemic levels. A survey of foot traffic in 1,000 office buildings nationwide reported even higher attendance in New York, at 84.1 percent in August.
On the other hand, a company tracking “swipes” for office access found that attendance in New York was at 52.7 percent during the week of September 18. Despite this, another company monitoring swipes noted an increase of over 18 percent in office attendance since Labor Day. This surge could potentially indicate changing leasing patterns and offer hope for the commercial real estate sector.
The disappearance of the “return to office” narrative has left many questioning the future of office attendance in New York City. The varying estimates highlight the uncertainty surrounding this issue and its implications for businesses, employees, and the overall economic recovery of the city.
Source: The NY Times
