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There is some research indicating that since the Great Recession of 2007-2009, workers are twice as likely to exit the labor force following a separation event than they were prior to the Great Recession.Relocation is still the most common response, but it is less important than it used to be.
This may lead to a decreased desire to experiment with different jobs in the local labor market, and essentially precludes geographic relocation for employment reasons.
Specifically, employment in the health care and social assistance sector is projected to add nearly four million jobs by 2026, about one-third of all new jobs.
By 2026, the health care and social assistance sector is expected to be the largest major sector.
From a cost-benefit perspective, it makes sense that older individuals are less likely to relocate.
If employment prospects are limited in their current labor market, they may choose to exit the labor force rather than relocate.