Even by previous standards, the latest moves by city and state lawmakers are stunningly destructive.
“I have moved to Texas,” declared
Elon Musk this month. The auto and aerospace mogul is not alone.
Podcaster Joe Rogan recently decamped to Texas, as did software giant
Oracle and multinational IT company Hewlett Packard Enterprise. A slew
of others, from financier Carl Icahn to software firm Palantir, have
also fled pricey cities this year for cheaper, more livable locales
across the country.
from LinkedIn suggests that working professionals are joining them.
Changes in location on user profiles from April 2020 to October 2020
show a migration of talent to less-expensive hubs.
According to a Bloomberg
analysis, Austin, Phoenix, and Nashville gained the most talent during
that period, while Hartford, New York City, and the San Francisco Bay
Area lost the most. Far from causing the death of all cities, 2020 has
breathed new life into some metros while leaving others on life support.
Other winning cities include Tampa and Jacksonville, as well as
Charlotte, Dallas, Denver, Las Vegas, and Charleston, South Carolina.
The urban exodus primarily consists of workers bailing on the Big Apple and the Bay Area. These same metros were the leading contributors
of new migrants to Austin in 2020. Cities that were attracting talent
nationwide before Covid-19 are continuing to do so, in greater numbers.
Migrants appear to be following preexisting social and professional networks to already-thick labor markets with thriving industries and good quality of life............To Read More....
Post a Comment