Yahoo Finance One Factor Makes a Major Difference in Work Flexibility, According to Latest Fed Data
A better work-life balance, not having to commute and higher productivity levels are just a few reasons why people choose to work from home. According to the Economic Well-Being of U.S. Households in 2022 report by the Federal Reserve System released in May 2023, employees who completed more education were more likely to work from home and have greater work flexibility.
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Twenty-seven percent of employees with at least a bachelor’s degree worked entirely from home compared with 9% of those with a high school degree or less, fed data shows. Three-quarters of workers with at least a bachelor’s degree worked from home or said they would if their employer let them. Only 25% of workers with a high school diploma or less could say the same. The report noted that one explanation could be that employees with more education were more likely to have a job where they could work from home.
Employees with at least a bachelor’s degree also reported higher levels of autonomy at work. Forty-four percent of employees with at least a bachelor’s degree said they often or always chose what tasks to work on, and 68% said they chose how to complete tasks. Approximately 32% of employees without a bachelor’s degree often or always chose what tasks to work on and one-half chose how to complete tasks.
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But not having a degree doesn’t mean you can’t find a flexible job. Fewer high-school graduates pursued higher education in 2020 than in previous years, according to research from the National Student Clearinghouse and as reported by the Harvard Business Review. Employers use degrees as a quick way to verify that candidates have dedicated the time and received the education to build skills relevant to the role. But now, the Harvard Business Review says recruiters are looking at talent pipelines outside of college pathways.
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