24 Mar Relocations Increase in the U.S.
Source: United Benefit Advisors (UBA)
Based on an article in SHRM: Society For Human Resource Management magazine, the percentage of U.S. job seekers relocating for new positions has climbed to its highest level since 2009. The 2013 average relocation rate was 13.3%, compared with 2012’s average of 9.8%, and in 2011 the quarterly relocation rate averaged just 7.6%. One of the biggest reasons for the increase in relocation is that the housing market has rebounded. During the height of the recession, along with the collapse of the housing market, relocating was not a possibility because many of the unemployed were stuck in houses that were “underwater” or below what was owed on the mortgage. As home buying rebounded, so did the ability for people to move. A report from the National Association of Realtors indicated that one in six metropolitan areas saw its housing market return to pre-recession conditions.