Working from home persists
Before the pandemic in August 2019, 32.1 per cent of the Aussie employed worked from home regularly.
By August 2021, a period within which much of the country was locked down, this figure went to an unprecedented 40.3 per cent.
By August this year, we were gradually easing back down to 36.9 per cent, but still well above the pre-pandemic level.
Source: ABS
For now at least the unemployment rate is below 4 per cent, so employees very much retain the upper hand in such a tight labour market.
This dynamic will begin to shift back in 2024, with the unemployment rate expected to tick up to 4½ per cent by the middle of the year, and net immigration running at very high levels.
More employers will almost certainly look to link bonuses and promotions to office attendance next year.
In London developers in the Square Mile are busy making big bets on the long term return to the office, and in Australia too there are some major office projects slated in the big capital cities.
For now, however, many managers and professionals are still regularly working form home, for at least some of the week.
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