Can't move, won't move. That's increasingly the approach of Americans who are in the market for a new job.
The share of job seekers who relocated to take up a new position fell to 1.6%, the lowest level on record, in the first quarter of 2023, according to Challenger, Gray & Christmas, which has conducted the quarterly survey for decades.
Behind the shift in attitudes lies a post-pandemic surge in remote and hybrid positions, which has made it possible for more workers to stay where they're living even as they change jobs. What's more, higher interest rates have made buying a house somewhere else more expensive.
That comes on top of longer-term trends that have seen U.S. workers grow steadily more reluctant to relocate — perhaps because diminishing job security has made the costs of moving a home seem like less of a safe investment.
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