Economics
Working From Home Saved American Commuters Nearly $91 Billion
- Savings come to $2,000 each for those who once drove to jobs
- Largest economic benefit produced by saving time, study showed
A vehicle drives along the nearly empty 110 freeway in Los Angeles on April 1.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Americans who once drove to work are saving an estimated $758 million a day since the onset of the Covid-19 pandemic, according to a new study by Upwork economist Adam Ozimek.
That collectively adds up to an overall economic impact of almost $91 billion, the study by the freelancing platform found. The savings are broken down into into several categories including direct costs and time value, with the latter producing the greatest economic benefits. Putting a modest value of $12.50 an hour on time spent commuting by car, Americans collectively are saving $411 million a day by staying home.