The pandemic may have changed some fundamentals of the economy in ways that mean we will never get back to "normal."
Lone Star College economist Hank Lewis says the last time this happened was 20 years ago with the transition into technology. After COVID, he says many workers now expect to stay at home.
“Why should I have to go and fight traffic for three hours of my life if I can work at home? I can be more comfortable. I take care of all my business on Zoom. And if my employer is not going to accommodate me, there are other businesses that will,” says Lewis.
The latest Back-to-Normal Index from Moody's Analytics stands at 93% as of June 18, a new pandemic-era high. The index is comprised of 37 national and seven state-level indicators that track metrics such as consumer credit, unemployment claims, job postings, domestic air travel and hotel occupancy.