Why Job-Related Moves Are Decreasing

Curated by Paul Helmick

I’m a Technology CEO and Experienced Entrepreneur. I love helping people use technology to grow their business.

  • In the near future, technology jobs in particular will not require employees to cross state lines
  • In a research paper, Understanding the Long-Run Decline in Interstate Migration, the Federal Reserve Bank of Minneapolis analyzed the decline in interstate migration in the United States between the early 90s
  • Slightly more than one in ten Americans (11.2 percent) moved between 2015 and 2016, almost half the 20.2 percent rate back in 1948
  • the decline in migration is due to a decline in the geographic specificity of occupations, together with an increase in workers’ ability, before moving, to learn about other locations and assess how much they will like living there through information technology and inexpensive travel
  • It’s unwise to trade a 10 percent salary increase for a 60 percent increase in living costs
  • This downward mobility trend will continue – perhaps precipitously so
  • Within the next 5-10 years, many more Americans will be working remotely via telepresence and/or serving on virtual teams, meaning that they and their employers can technically be located anywhere in the world
  • As the labor market tightens, organizations will relax their restrictions on employee presence in a physical office and will be more receptive to alternative work arrangements that don’t require major moves.

 

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Why Job-Related Moves Are Decreasing