It looks like HR departments and relocation program managers will be especially busy in the coming months. With reports of increased hiring across the U.S., there should also be an uptick in domestic relocation activity as companies add new employees to their teams.
According to the Labor Department, 292,000 people were hired in December, pushing the year’s total addition of jobs to 2.65 million. Those numbers show that the gains over the past two years are the best the U.S has seen since the 1990s.
Especially interesting to those in the relocation world is that the greatest growth was in the professional and business services sector.
Long-term studies have shown growth in the high- and low-skill types of jobs, while those in the middle are declining. This means more professional and management-level jobs – the types of jobs that often come with a relocation package.
With the recent economic and stock market troubles in China, many have worried that the U.S. economy will also suffer. These job reports are hopefully a sign that the U.S. economy has recovered enough to continue to grow despite global turmoil. Furthermore, a strong U.S. economy could end up helping internationally. According to the World Bank, for example, countries like Mexico and others in Central America may be better off thanks to the nearby and healthy U.S. economy. If U.S. spending on foreign goods increases as a result of less unemployment and higher incomes, the benefits could be far-reaching into other countries.
A resilient U.S. economy will probably help some other countries by drawing in more imports, especially as a higher-valued dollar holds down the prices of foreign goods. The World Bank said this week that Mexico and emerging markets in Central America should fare better than the rest of South America because of their proximity to the healthier U.S. economy.
If you’d like to know more about the job growth and what it means, check out these articles and sources:
- Robust Hiring in December Caps Solid Year for U.S. Jobs
- Bureau Of Labor Statistics - The Employment Situation - December 2015
- December Hiring in U.S. Robust, Defying Global Trends
- Robust U.S. Hiring Squashes Recession Fears
- Hiring Up, Layoffs Down in U.S.
- U.S. Job Growth Surges Despite Global Slowdown
- Jobs Involving Routine Tasks Aren't Growing
Do you have questions on how to prepare for a possible increase in relocation activity? If your company is hiring, and you’re responsible for getting those new employees from point A to point B, contact us now. We’d love to share our knowledge and experience – we’ve helped build brand new relocation programs and scaled them up from small to large.