Working from home due to COVID continues to decline

The number of U.S. employees working from home due to COVID-19 is falling, but remains elevated, according to the Bureau of Labor Statistics.

The BLS says 24% of workers telecommuted in August, down from 26.4% in July. That’s down from the peak of 35.4% in May.

Younger workers were less likely to work from home than others. Just 11% of those under 25 teleworked because of the pandemic, compared with 27% of those between 25 to 54 and 23% of those 55 and older.

Better educated employees were more likely to work from home, with just 3% of those with a high school diploma or less teleworking.

Despite the rally in technology stocks and certain work-from-home related issues, the newly-created Direxion Work From Home ETF (WFH, +0.4%) has barely budged. It’s up 5% since its arrival on the market at the end of June.

See the WFH top 10 holdings.

https://seekingalpha.com/news/3614223-working-from-home-due-to-covid-continues-to-decline