After a layoff, moving home could relieve some financial burden
After a layoff, moving home could relieve some financial burden
According to the Federal Reserve Bank of Cleveland, nearly half of all workers will at some point in their career become “displaced” — that is, they will lose a job through no fault of their own. When that happens, getting back to the level of income earned before the displacement often takes years, if not decades. However, a new study from the Cleveland Fed suggests that, for some young adults, simply living near one’s parents at the time a job loss occurs can drastically cut down the time it takes to make a full recovery.
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