Future of work

Using data from the American Time Use Survey (ATUS), the authors constructed a “COVID-19 work exposure” index to capture supply-side disruptions associated with the pandemic across sectors, firms and workers. This index, measuring differences in the capacity to work remotely, reveals that exposure varies significantly by sector. Exposure is low for software publishers, since most production can be done remotely, but very high for meat production where employees cannot work remotely. In sectors with higher exposure indicators (less ability to work remotely), greater declines in employment, more reductions in expected revenue growth, and worse stock market performance were measured. Those most affected were lower-paid female workers with young children.