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.
See also:
- 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
Links to this note
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Willingness to Relocate for a New Job Is at an All Time Low
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.
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The Radius of Economic Opportunity Is Limited
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.
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25% of All Job Postings Are Premanently Remote
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.
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60% of Startup New Hires Are Out-of-State
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.
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Remote Work Is a Supply Side Problem
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.