NextGen

Report: Average NYC Worker Spends $4,661 a Year Less Near Office Than in 2019

New York City has taken many economic hits as a result of the COVID-19 pandemic. One of them is the dropoff in how much the average office worker spends on things such as on meals, shopping and entertainment near their workplace.

That dollar figure is $4,661 per year less than what the average New York office worker spent in 2019, Crain’s New York Business reported, citing a study by WFH Research. That decline is the highest of any city included in the study. The next three are Los Angeles ($4,200), Washington ($4,051) and Atlanta ($3,938).

Manhattan workers are coming into the office almost 33 percent fewer days than in 2019, the same as Los Angeles, study data showed, but that was not biggest reduction; Washington experienced 37 percent fewer days in the office, followed by Atlanta (34.9 percent) and Phoenix (34.1 percent).

The lack of office workers in New York translated into $12.4 billion less being spent each year, Bloomberg calculated.

“If less income tax is being paid in New York City, then it’s hard to figure out how to capture enough value to maintain the subways and invest in the schools and keep the city safe and clean and all the things that really matter,” New York City Comptroller Brad Lander told Bloomberg.

Nationwide, in January, office occupancy rates rose above 50 percent for the first time since the pandemic began. So did New York City’s, but only 9 percent reported being in the office five days a week.

Such half-full offices may be new normal, The Washington Post reported at the time.

The WFH Research group is made up of academics affiliated with Stanford University, the University of Chicago and Instituto Tecnológico Autónomo in Mexico City. It has conducted multiple surveys of U.S. workers since May 2020, most recently in January.