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For months we’ve been talking with those unfortunate IT professionals that have been affected by the economic downturn through RIF, layoffs, outsourcing, etc. about being flexible in their search. Flexible in the type of work they’ll do, their commuting distance, the salary they’ll accept…and finally we told them to be flexible in where they live and that while selling a house may be daunting there career livelihood may depend on it. However, after hearing Paul Krugman speak last week I have a new appreciation to understanding why it’s both good for the candidate, but also good for the broader US economy as well.

As the Q& A session was about to come to an end Krugman answered a question about the pros and con’s of a single global currency. Now I won’t bore you with all the details, but in discussing the con’s he equated Spain with Florida (as they both had their real estate bubble’s burst) and that Spain will have many years of deflation due in part to a single EU currency, their inability to devalue their currency and other social, cultural and language barriers preventing them from moving to other EU countries while Floridians can simply pick up and move to areas of the US with more job opportunities and growth.

So if you find yourself unemployed (or underemployed) do what’s good for you and your country and move.

Views: 12

Tags: deflation, economy, moving, recession, relocation

Comment by Charles Van Heerden on November 11, 2009 at 3:02pm
Great advice Bill. Moving to a new city may be a big change, but with new opportunities. Unfortunately some employers seems to be reluctant if candidates apply from different cities, so a candidate often may have to be courageous and base themselves in their new location during their job search.
Comment by bill martineau on November 11, 2009 at 3:28pm
Charles,

You're right that companies are hesitant to pay relocation (at least in my field - IT) in an effort to save some money, and yes candidates will have to make difficult choices regarding several factors including selling/renting their current home, working out of town without their family & even paying for their own relocation for the right situation.

However, if the candidate does their research on the new location and company it can pay off for everyone involved.
Comment by Jonathan Duarte on November 11, 2009 at 6:11pm
Bill,
Great topic!
I heard a very interesting and yet scary story on NPR the week before last, about the Slow and Silent Talent Exodus. When I saw your post, I decided to write a blog post about it http://www.jonathanduarte.com/recruiting/us-talent-exodus.

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