Economic analyst says work-from-home push has 'gone way overboard'
Fox News contributor and economic analyst Jonas Max Ferris argues there needs to be 'a little more power' in the hands of your employer.
Reacting to companies pushing for a return-to-work arrangement following Labor Day, Fox News contributor and economic analyst Jonas Max Ferris argued the remote work push as "gone way overboard" as productivity in recent months is "making major declines," on "Cavuto: Live" Saturday.
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JONAS MAX FERRIS: I think when unemployment goes above 4%, the sweatpants companies are going to go out of business and the oil stocks are going to be down 90% just like Zoom stock is down because this work-from-home thing [has] gone way overboard. And as you've seen in the recent quarters, productivity is making major declines. Now, this is a very touchy issue at the Fed because they're trying to fight inflation. And a lot of that was just from handing out too much money, low rates and all that. But a lot of it is you're getting paid the same amount or more, actually, and producing less. And that is an inflationary concept.
Companies want employees to return to the office as productivity has made "major declines" in recent months, Fox News contributor Jonas Max Ferris said on "Cavuto: Live" Saturday, September 3, 2022.
And if the Fed tries to fight that with higher and higher interest rates, when the fact is you're just at home not working as productively as you used to be, then we are going to have a serious problem in the capital, in the asset markets, stocks and real estate, because they're going to adjust down with higher rates. And yet that's not going to get you off your duff. So ultimately, the high unemployment rate is going to scare people.
This last jobs report, we saw a lot of people entering the job force because they're starting to get worried that they got to get a job. And that was the good news in the job report, even though the number was higher, we need more people a little less scared, a little more power in the hands of your employer. And, it's anti-Labor Day, but less power in the hands of labor, basically.
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