You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Report: Underwater homeowners don’t greatly impact jobless rate

Continue reading below

Falling home values has kept some troubled homeowners from moving to another state for work -- but not enough to make a major impact on the national jobless rate.

That’s the conclusion of a new report by the Federal Reserve Bank of Boston, which looked at the impact of the housing market on jobs. The report, produced by the bank’s New England Public Policy Center and accompanied by a video, examined homeowners whose properties were “underwater,” or when their mortgage was larger than the value of the home.

“Our research shows that negative home equity does indeed reduce state-to-state migration -- but that the effect is small and has a negligible impact on the national unemployment rate,’’ the Fed said in a statement.

Jenifer B. McKim can be reached at jmckim@globe.com.
Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.