It feels like a fundamental part of the American dream is that you can pick up and move for a better opportunity. Go where the jobs are, or where life is more affordable. But lately, that’s not happening as much.
Data from recent years suggests that people are staying put. They’re not moving to new cities for jobs, and they’re not even moving between states as frequently as they used to. This trend, often called “stalled mobility,” is something I’ve been thinking about a lot, especially from my vantage point here in Silicon Valley, where change and movement are usually the norm.
So, why are people staying stuck?
Two big reasons stand out: housing costs and job insecurity.
Let’s talk about housing first. In many parts of the country, especially in areas with strong job markets, housing prices have simply gone through the roof. Rent or buying a home in a desirable area can take up a huge chunk of someone’s income. If you’ve just managed to afford a place, the idea of selling it, moving, and buying or renting somewhere else – especially if the job market isn’t a guaranteed home run – seems incredibly risky. It’s like being tied down by your own four walls.
Then there’s job insecurity. While technology has certainly created new opportunities, it’s also changed the nature of work. Automation, AI, and the gig economy mean that stable, long-term employment isn’t as common as it once was for many. When you’re not sure if your job will be around in a few years, or if your income will be consistent, you’re less likely to take on the expense and uncertainty of moving. Why uproot your life if your next job might be just as precarious, or even more so?
This lack of mobility has broader implications. It can mean that talent isn’t flowing to where it’s most needed, and communities aren’t seeing the economic revitalization that new residents can bring. It also raises questions about whether the opportunities technology creates are truly accessible to everyone, or if they’re concentrated in a few already-expensive places.
From my perspective, this isn’t just an economic issue; it’s a societal one. A healthy economy often involves people being able to move to find their best opportunities. When that ability is diminished, it signals something deeper might be off-kilter.
We need to think about how technology and economic policies can either contribute to or help solve this. Are there ways technology can help make housing more affordable? Can we create more stable work opportunities, or provide better safety nets for those navigating job transitions? These are crucial questions we must ask ourselves as we continue to embrace technological advancement. The goal should be progress that benefits everyone, not just a select few, and allows people the freedom to pursue their best lives.