econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 19 August 2016

More Job Seekers Move For Work: Companies Compelled To Seek Out-of-Towners

from Challenger Gray and Christmas

The percentage of job seekers moving for new employment increased slightly in the first half of 2016. The rise in relocation may be an indication that worsening labor shortages in certain regions are forcing employers to find out-of-town candidates.

Over the first two quarters of 2016, an average of 11.3 percent of job seekers relocated for new positions. The relocation rate reached 12 percent in the second quarter, which was the highest percentage of job seekers relocating since the fourth quarter of 2014, when 15 percent of job seeker found employment in new towns.

The 11.3 percent relocation rate in the first half of 2016 was up from an average of 10% recorded in the same period of 2015. The relocation rate rose to 10.8 percent in the second half of 2015, according to the Challenger data, which is based on a survey of approximately 1,000 job seekers successfully finding employment each quarter. Said John A. Challenger, chief executive officer of Challenger, Gray & Christmas:

The number of metropolitan areas experiencing labor shortages is growing. As it does, employers in these areas will have to seek candidates from beyond the borders of the local talent pool. Job seekers who are willing to pull up stakes and relocate for new opportunities are finding welcoming arms,.

The latest data from the U.S. Bureau of Labor Statistics show that there are 108 metropolitan areas with unemployment rates below 4.0 percent, including such major cities as San Francisco, Dallas, Denver, Boston, and Cleveland. Said Challenger:

When the unemployment rate gets in the 3-percent to 4-percent range, it becomes extremely difficult to find any available workers, let alone ones with the particular experience and skill set required for unfilled job openings. So, employers have to caste a wider net.

However, simply seeking candidates from other cities and towns is not enough. Most people do not want to go through the hassle of relocating. Companies will have to offer a bigger carrot to entice candidates.

A keyword search on Indeed.com reveals that there are currently more than 25,600 job postings on the site indicating "paid relocation" incentives.

The 2016 Atlas Van Lines Corporate Relocation Survey found that 89 percent of employers offer some type of relocation reimbursement to new hires. More than one-third (36 percent) of respondents indicated that they provide full reimbursement for moving expenses, while another 38 percent said the offer partial reimbursement that varies based factors such as salary and position. Concludes Challenger:

Even with incentives, relocation is rarely the most desirable option for job seekers. There is a lot of risk involved and costs can often exceed what the new employer is willing to pay. This is why we typically never see relocation rates top 20 percent, even when business and economic conditions are at their best.

You are not only leaving your social safety net of friends and family; you are leaving your professional safety net made from former co-workers, business associates, etc. These are the people you would turn to in the event of a job loss. However, this network does not exist in a new city or state. You have to start building it immediately.

If there are professional associations related to your occupation or industry, it would be a good idea to join the local chapter in your new area. Charitable and service organizations are another way to expand your social and professional network. And, do not overlook your new neighbors. Making new friends and getting to know people in your new area will not only make the transition easier, but these are the people who will help you if your new employment situation does not work out.

2016 Midyear Relocation Report.pdf

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Contributors


search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Slow Economic Growth Will Be Around For A Long Time
The Job Guarantee, Wage-Price Inflation And Alternative Solutions: Part 2
News Blog
Lack Of 'Dark Matter' In Early Galaxies Perplexes Astronomers
The Global Cost Of Tax Avoidance
What We Read Today 25 March 2017
Here's Why You Shouldn't Use Public Wi-Fi
Firmer Global Growth Hinges On Policy Shifts, Political Clarity
Life Expectancy Has Increased Dramatically Over The Past Century. But Some People Might Be Falling Behind.
How Election Surprises Affected Exchange Rates
Tax Expenditures
Trading With Elliott Waves Doesn't Have To Be Complicated
Infographic Of The Day: The Sad State Of America's Infrastructure
Early Headlines: OPEC Strategy Fails, Amazon And State Sales Tax, Tillerson Will Attend NATO, GOP Troubles, Euro Shorts Fading, Marine 'Loves' Vlad, Russia Ready For $40 Oil, And More
The World's Most Boring Jobs
PewDiePie Weathering The Storm
Investing Blog
Avoiding The Trap Of The Demo Trading Account
Snap's Pre-IPO Revenue Per User In Context
Opinion Blog
Fade To Black
Robots, Aliens, Corporate Drones - Who Will Be The Citizens Of The Future?
Precious Metals Blog
These Gold Stocks Will Produce Much Bigger Gains Than Gold Itself
Live Markets
24Mar2017 Market Close: Trumpcare Collapses But Little Affect On The Markets
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government































 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved