Sticking with remote work? Businesses are betting on it

U.S. businesses have been spending more on technology than on bricks and mortar for more than a decade now, but the trend has accelerated during the pandemic, one more sign that working from home is here to stay. Accelerated by the pandemic, the divergence between the two types of business spending is here to stay, says Stanford economics professor Nicholas Bloom. 'This is the surge in (work-from-home) which is leading firms to spend heavily on connectivity,' Bloom said. He and colleagues have been surveying 5,000 U.S. residents monthly, and found that from May to December about half of paid work hours were done from home.