"In an email to Fortune, Bloom also noted the data show "a clear post-2020 surge in productivity growth exactly when WFH [work from home] ramped up." Still, large companies are increasingly moving away from work-from-home and flexible work policies."
Non-farm business output has risen about 2% per year over the past five years, faster than the roughly 1% productivity growth seen during much of the 2010s. Federal Reserve Chair Jerome Powell has expressed surprise at several years of high productivity. Nicholas Bloom links the productivity surge to work-from-home policies adopted after the pandemic, citing time saved from commuting and reduced office time wasting. Trials and related research indicate higher productivity under remote work. Data also show a post-2020 increase in productivity growth coinciding with the ramp-up in work-from-home. Despite this, many large companies are moving back toward full in-office schedules.
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