Moving for employment reasons may be unwise

Though some have moved to cities with lower jobless rates in an effort to find employment, doing so is a risky decision that may lead to a worse financial situation, according to the Wall Street Journal.

Before moving, people should thoroughly assess their situation and fight the temptation to automatically move to a state with a lower unemployment rate, the source says. Though one state may seem to have more jobs available, they may not be in the job seeker's field.

"It depends on what types of industries are in the state that are driving the low unemployment rate," Jason Levin, district manager of Vault.com told the Journal. "Unemployment rates are important gauges to look at, but there are underlying reasons."

People considering moving for work should also evaluate the expenses they would incur in the process. Moving can be costly and few jobs still cover relocation expenses, the source warns. Also, some states with low unemployment still may have high costs of living, including housing and food expenses.

Those who decide to make the big move should always ensure they have a backup plan and enough funds set aside to maintain their financial stability, should they struggle to find employment in their new destination. 

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