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By: David Mielach, BusinessNewsDaily Staff Writer

26Jun 2012SHARETweetTweet 1

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Moving back home after losing your job may not be the most appealing situation, but it may be the smartest thing alaid-off worker can do, a study suggests. The research shows that moving home presents laid-off workers withboth short- and long-term financial benefits by allowing them to search freely for a new job while saving money.

"Intuitively, it makes sense that people move home after an employment shock," said Greg Kaplan, an economicsprofessor at the University of Pennsylvania who is the study's author. "We've seen a lot of anecdotal evidence ofthis during the latest recession. But there hadn't been much hard data on how common it is or what the effectsmight be. This study demonstrates that the option to move home is potentially very important."

[24 Things Not to Put on Your Resume]

Kaplan based his study on data for nearly 1,500 men in their late 20s and early 30s. He found that the worker whohad lost a job at age 20 and continued to live on his own while searching for new work was making 25 percent lessmoney by age 26 than the one who had never lost his job. However, the worker who lost his job and moved homewas, by age 26, essentially making the same money as his always-employed counterpart.

According to Kaplan,moving home allowedworkers who had losttheir jobs to setthemselves up to get abetter job later on. Thisis because those livingat home did not needmoney immediately, sothey did not have to

rush into a job with low future-earning potential.

"Jobs with higher growth potential may be harder to find," Kaplan said, "and they often involve low earnings in the short run but higher earnings in the future—an internship,for example. If you're living at home, you might be able to wait for these better opportunities."

The findings were part of the paper "Moving Back Home: Insurance against Labor Market Risk" published in the June edition of the Journal of Political Economy.

Follow David Mielach on Twitter @D_M89 or BusinessNewsDaily @bndarticles. We're also on Facebook & Google+.

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