Good News: Young Americans On the Move Again

Since the recession, American mobility — the rate at which we move states, counties, and even neighborhoods — has fallen to record lows, which is both a reflection of economic troubles and a hindrance to recovery. But new data released by the Census Bureau shows that trend beginning to reverse, at least in the short term. How frequently we move may not seem particularly significant, but it has major implications: Geographic stagnation is closely linked to economic stagnation. During tough times, Americans have historically set off for geographic areas with more jobs and other economic opportunities. In recent years, however, the real estate market hasn’t cooperated: Folks are not only struggling to sell homes, but with so many homes underwater, many can’t even think of selling. Other factors are convincing people to stay put as well. America is aging, and older workers have always been less likely to move than younger ones. The growing prevalence of two-income households has made it less likely that families will migrate when someone loses a job. Meanwhile, growing student debt levels have made it hard for young people to leave their parents’ home to look for work. (MORE: How Debt-Ravaged Greece Aced a Financial-Literacy Survey) And in a kind of vicious cycle, this dynamic runs in both directions: Yes, tough times can cause a decrease in mobility; but decreased mobility can also stifle economic recovery. Several areas of the country have dramatically lower unemployment rates than others; and employers report that large numbers of jobs have remained unfilled for months because of a lack of qualified candidates. But circumstances are making it impossible for many Americans to take advantage of such opportunities. But there’s good news, at least in the short-term. According to new data from the Census Bureau, mobility rates are starting to head back up after hitting an all-time low in 2011. This year, according to new Census figures, those rates finally starting ticking up. Twelve percent of Americans moved in 2012. Most promising, 25- to 29-year-olds are moving again. According to analysis of

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