Switching to a 4-day 9 hour work week could positively impact the economy in several ways:
Potentially Slows Wage-Price Spiral: By making work hours more efficient, a 4-day week could reduce the pressure to raise wages in response to high inflation, helping curb the wage-price spiral (where wage increases lead to higher prices and vice versa).
Better Work-Life Balance: Middle-class and salaried workers might experience less stress and better work-life balance, which could improve overall quality of life without needing higher salaries to compensate for high-stress, longer hours.
Reduced Childcare Costs: Families could save on childcare expenses if one day is added back to their time at home, reducing a significant cost for middle-class households and potentially lessening the demand for wage increases.
Increased Productivity Gains for the Middle Class: Shorter weeks have shown that employees often accomplish more in less time, which could justify pay increases or bonuses without increasing inflationary pressure, benefiting middle-class earnings without triggering large-scale inflation.
Less Commuting Expenses: With fewer days commuting, workers save on transportation costs (fuel, public transit, maintenance), which could free up more disposable income and reduce the need for immediate wage increases to keep up with inflation.
Promotes Spending in Other Sectors: A 4-day workweek could shift middle-class spending from essentials like fuel and food toward leisure and other sectors, helping balance inflation by spreading demand more evenly across the economy.
Boosts Job Satisfaction and Reduces Overwork:
Lower hour’s can attract and retain talent in competitive labor markets by offering a more appealing work-life balance. Also, it will increas per-hour productivity as employees are more focused and less prone to burnout. It could help alleviate the increasing rates of mental illness.