An average of 9.4 percent of job-seeking managers and executives who found employment during the first half of 2011 relocated to take the new positions, according to a report released today by Challenger, Gray & Christmas Inc.

The increase in the average relocation rate, from 7.6 percent for the year-earlier period, may indicate an increased willingness of job seekers to take a loss on the sale of their home, or willingness of employers to assist the newly hired with relocation costs.

“The 9.4 percent relocation rate in the first half of 2011 is still low by historical standards, but the increase does indicate that job seekers are finally beginning to loosen the stakes that have kept them tethered to a specific region,” said John Challenger, CEO of Challenger, Gray & Christmas.

The percentage of job seekers relocating fell as the housing market collapsed. From the fourth quarter of 2009 through the end of 2010, the quarterly relocation rate averaged 7.5 percent, which is the lowest annual average since the outplacement consultancy began tracking job-seeker relocation data in 1986.

Job seekers were significantly more open to relocation prior to the recession. From the first quarter of 2005 through the third quarter of 2007, 16.1 percent of those finding employment relocated for their new positions.  

“Since there has been little improvement in the housing market in 2011, one might conclude that the increased relocation in the first half of the year is due to the fact that prolonged unemployment is compelling more job seekers to relocate, despite the challenges of selling a home in this market,” Challenger said. “At some point, the job seeker may simply conclude that it is worth taking a loss on a home sale to get back on the payroll.”

Challenger said there were few examples of employers paying for top performers’ relocation costs, including covering any losses incurred by selling a home that is underwater, as most companies continue to keep a tight rein on costs.