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Economy
Published 20 hours ago


COVID PANDEMIC HAS 'PERMANENT IMPLICATIONS' FOR OFFICE STRUCTURE: ECONOMIST
STEVE MOORE


CHANGES TO THE OFFICE DYNAMIC WILL HAVE 'HUGE IMPLICATIONS FOR COMMERCIAL REAL
ESTATE,' MOORE ARGUES

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By Talia Kaplan FOXBusiness
close



ECONOMIST STEPHEN MOORE ON VACCINE MANDATES FOR EMPLOYEES

Economist Stephen Moore explains how the COVID-19 pandemic and recent surge of
cases due to the Delta variant is changing the office structure long-term.

Economist Stephen Moore explained the "permanent implications" of COVID-19,
arguing on Monday that the "whole office structure is going to be different" as
a result of the pandemic and the surge of cases of the delta variant. 



Moore argued on "Varney & Co." on Monday that the extent to which changes will
be permanent will have "huge implications for commercial real estate, especially
in major cities," including San Francisco and Chicago.  

He pointed out that Apple announced it is pushing back the return to corporate
offices until January at the earliest because of the increase in cases and new
variants, according to a memo sent to employees on Thursday, as reported by
Bloomberg. 

"I do believe that the way we work, where we work, how we work has been
permanently changed by this episode of COVID and the whole office structure is
going to be different," Moore told FOX Business host Stuart Varney. 

REMOTE WORK MAY NOW LAST FOR TWO YEARS, WORRYING SOME BOSSES

He also warned of "a lot" of other "permanent implications for the economy from
COVID that are just still emerging to this day." 

The Wall Street Journal reported on Sunday that some companies are considering
keeping offices closed for nearly two years given the latest wave of delays to
return to the office due to the surge in COVID-19 cases. 

Intel Corp. CEO Pat Gelsinger reportedly predicted hybrid and remote work will
continue for months and years to come. 



"There is no going back," the Wall Street Journal reported he said. 

Companies including Chevron and Wells Fargo & Co. have also postponed September
returns, the newspaper reported, adding that tech companies including Amazon and
Facebook have pushed back the return dates until early next year. 

close
video


ECONOMIST STEVE MOORE EXPLAINS 'PERMANENT IMPLICATIONS' FROM COVID

Economist Stephen Moore says the whole office structure will be 'different' as a
result of COVID-19, arguing that the extent to which changes will be permanent
will have 'huge implications for commercial real estate, especially in major
cities.'  

Moore provided the economic insight on Monday as a growing number of companies
announce employees will have to be vaccinated before returning to corporate
offices. 

IBM is one company, which announced this month, that it would only allow fully
vaccinated U.S. employees to return to offices, which are set to open Sept. 7,
Reuters reported.  

The resurgence of COVID-19 cases and the new guidance from the U.S. Centers for
Disease Control and Prevention requiring fully vaccinated people to wear masks
have led companies to change their masking and vaccination requirements as well
as alter plans on returning to offices. 

A majority of economists believe U.S. companies should require their employees
to be vaccinated in order to keep their jobs or return to offices, according to
a new survey released early Monday. 

Conducted by the National Association for Business Economics, the survey shows
that the majority of those surveyed, or 79%, are in favor of requiring employees
to be vaccinated against COVID-19 before they return to the workplace. Only 14%
of respondents said they did not support mandated vaccines. 



NEW YORK COVID-19 VACCINE MANDATES FOR GOVERNMENT WORKERS FACING GROWING UNION
BACKLASH

Moore says he agrees with the majority of those economists surveyed, arguing
that "every private company" and private employer "has the right to require
their employees to be vaccinated." 

He did, however, point out that he has a "big problem" if the government were to
mandate vaccinations. 

close
video


STEVE FORBES SLAMS 'OUTRAGEOUS' NYC VACCINE MANDATES, CALLS OUT DE BLASIO'S
'INCONSISTENT' COVID RESTRICTIONS

Forbes Media Chairman Steve Forbes discusses NYC vaccine mandates for
restaurants and other indoor businesses.

"People have the right to choose whether they want to get the vaccine or not,"
Moore told Varney. 

He added that the vaccine mandate debate "is going to be an interesting
development in the workforce, whether what happens to those employees who say
they don’t want to get vaccinated, are they not going to be able to rejoin the
workforce?" 

NEW YORK COVID-19 VACCINE MANDATES FOR GOVERNMENT WORKERS FACING GROWING UNION
BACKLASH

He pointed out that there are several Americans "who do just not trust the
vaccine." 



Ticker Security Last Change Change % PFE PFIZER INC. 49.93 +1.21 +2.48%BNTX
BIONTECH SE 382.10 +33.42 +9.58%

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Moore provided the insight on Monday as the COVID-19 vaccine produced by Pfizer
Inc. and BioNTech SE has become the first to receive Food and Drug
Administration approval. 

CLICK HERE TO READ MORE ON FOX BUSINESS

FOX Business’ Ken Martin and Megan Henney contributed to this report. 




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Quotes displayed in real-time or delayed by at least 15 minutes. Market data
provided by Factset. Powered and implemented by FactSet Digital Solutions. 
Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

This material may not be published, broadcast, rewritten, or redistributed.
©2021 FOX News Network, LLC. All rights reserved. FAQ - New Privacy Policy