Just 7 percent of people taking on new jobs last quarter relocated for that position, reports Challenger Gray & Christmas. That's a record low and a function of both the crummy housing market and companies' unwillingness to pay to move folks — and could have implications on the strength of the economy's rebound.
“Right now, demand for new workers is not at a level that would force companies to bring in talent from outside their region. However, as the local talent pool starts to become depleted as the economy improves, companies will be compelled to cast a wider recruiting net. Unfortunately, the immobility of the workforce may mean that some employers will have to delay expansion plans, thus slowing the recovery,” he said.