Welcome to Mobility Minute, a newsletter published every Friday byWorldwide ERC®for the benefit of members and the global mobility and relocation industry. Here’s a quick glimpse of what you’ll find in this week’s issue:
Worldwide ERC Continues to Advocate for Public Policies That Support Workforce Mobility
Apartment Rental Costs Expected to Slow in 2023
Demand for Air Cargo Continues to Cool
Note: If you receive Mobility Minute weekly, please forward this issue to colleagues in the workforce mobility industry. If this was shared with you, click hereto subscribe and gain access to the archives.
Worldwide ERC Continues to Advocate for Public Policies That Support Workforce Mobility
From renewed calls for bipartisan reforms in the U.S. immigration system to underscoring the importance of data privacy and the protection of personal information, President Joe Biden’s State of the Union earlier this week addressed several integral parts of Worldwide ERC®’s policy priorities in 2023. Representing over 4,000 certified relocation professionals around the world, we are committed to advocating for commonsense public policies that support workforce mobility specialists as they safely and efficiently relocate and support individuals in the workplace—including remote ones.
Even as an increasingly mobile workforce faces old problems and confronts new challenges, Worldwide ERC continues to advocate for public policies under an anywhere, agile, and attentive framework—fighting to ensure that workforce mobility professionals can deliver talent strategies that support where work is anywhere in the world, that the modern workplace has the flexibility to be agile amid ever-evolving conditions, and that policymakers are attentive to the developing needs of the workforce. You can learn more about our principles for public policy reform on our website.
Across the nation, tenants have been struggling to cope with steep rent increases in recent years. In the current market, rent prices stand significantly higher than they did a year ago in all but 10 cities across America, as reported by Zumper. Analyzing recent monthly changes in median rent, an intriguing pattern has been uncovered. As per Zumper's report, since its April 2022 peak, the median rent for one- and two-bedroom units in the 100 biggest cities across America has been steadily declining.
Why is this important?
Analysts expect that, although new rental buildings will be built, the majority of cities likely won’t have an adequate supply of affordable housing units to meet demand. As rental cost increases gradually slow, it's an indication that inflation is progressively growing more manageable. It will take some time for the recent rent drops to be reflected in the government's Consumer Price Index due to how this data is collected and reported.
In 2023, shippers may benefit from the competition among carriers due to decreased air cargo demand. This decrease in demand for air cargo and increase in availability could make airfreight a popular and potentially more affordable option for shipping household goods in 2023.
Why is this important?
The recent decrease in demand comes after months of supply chain chaos. The pandemic saw an increase in businesses relying on airfreight to avoid delays caused by congested ports. However, now that ocean congestion has cleared, the demand for costlier air cargo services has decreased. The increase in availability might make air cargo an attractive—and slightly less expensive—option for relocating employees.
Webinar: How Mobility Can Help Attract and Retain Talent — In this session, held 21 February, Andrew Meadowcroft of Aires and a corporate panel will discuss the role of mobility in talent acquisition and how to engage the right internal stakeholders to ensure a successful program. Learn more and register.
Webinar: Car Services – How to Manage Assignees’ Global Transportation Needs — This session, held 28 February, will explain how to create and manage a global transportation plan. Jesper Lovendahl of ExpatRide International will discuss the challenges international assignees faces in new locations and how to overcome these, as well as how you can manage and centralize all your global transportation expenses. Learn more and register.
Worldwide ERC Town Hall: Strategic Plan and Beyond — Hear from Lynn Shotwell, Worldwide ERC president and CEO, and Anupam Singhal, Worldwide ERC chairman, on 2 March about the 2023 strategic planning that will guide the organization throughout the coming years. Learn more and register.
Global Economic Snapshot
In an ongoing effort to slow the destruction of nature, delegates at the 2022 United Nations Biodiversity Conference in Montreal, Canada, focused on reversing the rapid decline of animals, plants, and insects. The conference, also known as COP15, worked toward a new global agreement to protect biodiversity. — World Economic Forum
Chinese owners have very slowly expanded their holdings in U.S. agricultural land in recent decades, but the increasingly hostile political climate has made the topic a rising concern, with at least 11 states considering some form of new legislation related to foreign ownership of farmland or real estate, according to the National Conference of State Legislatures. — The New York Times
U.S. Citizenship and Immigration Services, the federal agency that oversees legal immigration, is planning to raise costs for an array of applications including ones required for citizenship naturalization, to obtain a green card, or to legally work in the U.S. as a noncitizen. — NPR
Flights are very expensive right now. In 2023, travel experts expect airfare to be very high—higher than in 2019 and 2018—but not as high as that very incredible peak that we saw in 2022. That’s because many of the factors that were at play last year remain an issue this year. Jet fuel prices are still very high, consumers still have huge appetites for travel, and airlines are still not operating full pre-pandemic schedules.
Airfare is high, but not as expensive as it was in 2022
To find fares that are a better deal, consider leaving on a weekday instead of a weekend. For example, Expedia’s flight data shows that flying on 4 April, a Tuesday, instead of 1 April, a Saturday, could save an average of nearly $125 for a round-trip flight.
Worldwide ERC®, 2001 K Street NW, 3rd Floor North, Washington, DC 20006, United States, 1-703-842-3400
