Posthaste: This 'overlooked' hit from people working at home is costing our economy billions

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 80%

Canada Headlines News

Canada Latest News,Canada Headlines

Toronto alone losing a staggering $1.4 billion a year

The subway trains and buses shuttling millions of people from point A to B in Canada’s big cities are just transportation, right?out this morning. They are much more than that.

Doubling the size of an urban area can increase incomes by 3% to 8%, global studies have found. Canadian research finds that those living in more populated areas have incomes that are 3% to 5% higher than less populated.By August 2020, two-thirds of companies reported that more than 20% of their employees were working from home, according to Statistics Canada. In its post-pandemic outlook surveys, 56% of employers expect 20% of their employees will work from home.

Toronto suffered the most. At its lowest point, transit demand dropped 85%, causing the TTC to reduce service by 80%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Disagree! In the free market, people choose to drive. What public transit is, and always is, is government trying to tell people what to do. Well, they need people to buy in to their inefficient product

Health trumps economy every single time! In my opinion!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Working from home 'doesn't work for those who want to hustle': JPMorgan CEOJamie Dimon says exclusively working from home \u0027doesn\u0027t work for young people\u0027 👀🌚🙃 Hustling apparently means wasting three hours a day in a round trip commute... if you’ve lived on the East Coast or worked in Boston, Hartford or New York... you know what I’m talking about. What did US justice dept call them last year,a criminal organization,charged them with Rico statutes but no one went to jail after paying $923 million fine.
Source: nationalpost - 🏆 10. / 80 Read more »

Posthaste: If your morning cup of coffee doesn't cost more now, chances are it’s about toGlobal supply chain crunch likely to force businesses to pass on higher prices to consumers
Source: nationalpost - 🏆 10. / 80 Read more »

Investigating money laundering in B.C. an issue for RCMPRCMP resources were thin when billions of illicit cash washed through B.C.’s economy, inquiry hears Surely they're watching the casinos where the Chinese launder their money.
Source: globeandmail - 🏆 5. / 92 Read more »

Wealthsimple hits $5 billion (US$4 billion) valuation on funding from Ryan Reynolds, DrakeWealthsimple said on Monday it has raised $750 million in its latest funding round, which more than doubled the Canadian financial technology company's valuation to $5 billion.
Source: CTVNews - 🏆 1. / 99 Read more »