Last month's issue included an article about how the millions of people working from home (teleworkers) have increased (and shifted from Saturdays) the number of visits to out-of-home leisure and entertainment destinations during afternoons on weekdays.
We have newly released information from the U.S. Department of Labor on the percentage of private business workers who are full-time and part-time teleworkers. Overall, a little over one-quarter (27%) are teleworkers. Before the pandemic, only 5% of workers were remote according to research by Nicholas Bloom, William Eberle Professor of Economics at Stanford University.
The information sector has the highest percentage of remote workers at two-thirds (67%). Many business sectors with a high percentage of teleworkers have high employment by college graduates, professionals, and higher-income workers. This is positive for the location-based entertainment venues (LBEs) and FECs, as higher socioeconomic people and their households account for the lion's share of spending at those venues.