Why working from home is here to stay

Juliak Pollak, Chief Economist at ZipRecruiter, joins TheStreet to explain why she thinks remote work isn’t going away any time soon.

Transcript

00:00Can you tell me what are the job market, job-seeking, hiring myths out there that you would like

00:10to debunk?

00:11It's a good one.

00:13So I think there is a feeling out there that things are very gloomy.

00:17I see headlines saying things like entry-level hiring is down 75 percent this year.

00:22That is just simply not true.

00:25If you look at employment rates for teens and young Americans, for example, they've

00:29been ticking upwards every month this year, and they're actually on track to be the highest

00:33since the Great Recession in May.

00:36And so it's simply not the case that people are sitting around not finding work.

00:41The job-finding rate, the rate at which unemployed people are finding new jobs, is about what

00:46it was before the pandemic.

00:48It is high and strong.

00:50So don't despair.

00:51The jobs may not be where you want them to be.

00:52They may not be where you first look, but have an open mind.

00:56There are lots of opportunities out there.

00:58I do have one more question.

00:59Talk to me about hybrid and remote work.

01:02We've seen a couple of headlines where it's negative, where remote work is over, hybrid

01:09work is done.

01:11What are you seeing in terms of the postings on ZipRecruiter?

01:15So that is another huge myth.

01:17So much attention is given to return to office, but if you look at surveys of workers and

01:21if you look at Castle Rock employee badge swipe data, remote work is flat as a pancake.

01:27It is fully, fully stabilized.

01:29Yes, you have some companies that are pulling back, but you have many other companies that

01:33are finally terminating that office lease once and for all and shifting to being fully

01:36remote.

01:37You have lots of new companies, startups, companies with under 100 employees.

01:41About 70% of those tech companies, those small startups, are fully remote.

01:46So it's simply not true.

01:49Remote work is here to stay, very resilient, stable as a pancake, and will probably tick

01:54up in the coming years as companies just get better at doing it.