Rising Relocation Rate Bodes Well for Labor-Starved Oil Patch
by: Andrew Schneider, August 26, 2013 12:08:00 am
On average, 14% of unemployed managers and executives relocated between January and June in order to get jobs – according to new data from global outplacement firm Challenger, Gray & Christmas. That's the highest first-half average since the start of the recession.
CEO John Challenger says this trend should help cities and towns in the Permian Basin and Eagle Ford Shale regions. He says the benefits won't be limited to the oil industry.
"Think about Midland, Texas. You might, as a job seeker, think there's no jobs there unless you're working in the [oil] business. But it's really not the case. When you see an area start to really grow, there's lots of effects beyond just that industry driving the growth. Jobs in health care, in education, retail, business services — people with all sorts of skills can find jobs in those areas."
Challenger credits the recovery of the housing market for the growing willingness of job seekers to up stakes and move for employment.