by Challenger, Gray & Christmas, Inc.
Relocation among job seekers, which reached a post-recession high in the second half of 2014, fell back down to Earth in 2015 as widespread economic improvements reduced the need to move for employment opportunities.
The latest data on relocation rates shows that, on average, 11 percent of those finding employment each quarter moved for the new position. The data released Tuesday by global outplacement consultancy Challenger, Gray & Christmas, Inc. is based on a quarterly survey of approximately 1,000 individuals completing the job search.
Last year’s relocation rate was down from a four-quarter average of 13 percent in 2014 and 2013. Relocation reached a post-recession high in the second half of 2014, as 15 percent of job seekers pulled up stakes for new opportunities during the final two quarters of the year.
“It is typical to see these small windows of relocation surges. They tend to occur at the beginning of recessions and then again as the economy moves from recovery to expansion,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.
“Last year definitely marked a turning point in the recovery. We finally regained all of the jobs lost as a result of the 2008-2009 recession and, by the end of the year, the national unemployment rate fell to 5.0 percent. Even with the struggles in the oil industry, the number of metropolitan areas throughout the country with unemployment rates below the national average continued to grow,” said Challenger.