Media still undercounting return-to-office phenomenon

The media continues to absurdly undercount, downplay or misunderstand the return-to-office phenomenon, although the surge should be obvious from the current leasing frenzy and from crowds on the street.

For example, Crain’s last week questioned whether the 345 Park Ave. murders would “impact the city’s already stagnant return-to-office rates.”

The story based its “stagnant” claim partly on the Partnership for New York City’s supposed finding that only “57% of Manhattan office workers had returned on the average workday.”

That — like many similar off-base readings of data — made it sound as if Manhattan offices that were full before 2020 are now barely more than half full.

What the Partnership actually said in March was that 57% of workers in offices at the time “equates to 76% of respondents’ pre-pandemic attendance.”

In other words, pre-pandemic offices were not 100% occupied — they never were —  but 75% occupied. That’s because 57 is 76% of 75.

The 19% difference between 76% and 57% is much less than an alleged 43% gap between 100% and 57%.

And with so many CEO’s calling their staffs back, the 19% gap can only continue to shrink further.