An analysis by Ladders found that the percentage of high-paying job listings ($80,000+) in the US and Canada that were remote increased from 3.69% in Q4 2019 to 14.67% in Q3 2021.
- 45% of jobs can be done remotely
- Half of Millennials and Gen Z would consider quitting if employers don’t allow remote work
- Executives are likely included in “high-paying jobs” which would lend support to remote work overall. Organizational support of remote work correlates with reported productivity
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A recent survey of 3,000 job seekers found the willingness to relocate for a new job fell from 3.5% in 2022 to 1.6% in 2023. Even more astounding is that the number is down from 29% in the 1990’s.
The economic benefit of increased wages is highly localized. 8 in 10 people live within 100 miles of where they grew up and disadvantaged groups are less likely to move for higher wages. In total, 99% of the residents of a given area (i.e. commuter zone) would live there even if there wasn’t strong wage growth.
According to the Q1 2022 survey by Ladders, 24% of all job posting in the US and Canada are now for permanent remote positions—an increase from 18% in Q4 2021 or roughly 3MM jobs.
In the latest Startup Compensation report from Carta based on 3,000 venture-backed companies, 60% of new hires at startups are out-of-state. Thes ratio of in-state to out-of-state held steady since 2022 despite larger comapnies making vocal return-to-office policies. Remote workers are primarily concentrated in California, Massachusettes, New York, Washington, and Texas.
There has always been strong demand for remote work and it wasn’t until the global COVID-19 pandemic that the supply side (employers) briefly caught up.