Economy has Americans staying put
By Annie Lowrey, New York Times
Economists admire Americans for many traits: our profound respect for property rights, our tendency to forgo vacation days, our ingenious methods of mass-producing “food.”
Another important attribute is our willingness to move, between houses, between states and across the country. Some economists believe our inborn rootlessness makes the country’s work force more dynamic and strengthens our economy’s growth. Imagine how much worse off the country might be if the 49ers had decided against making the trek to California or the sharecroppers chose to stay in the South.
Economic mobility and geographic mobility have been closely linked for much of American history, so economists find it troubling that migration rates have been in decline lately. The proportion of Americans moving has fallen to new postwar lows in the past few years.
According to Census Bureau data from 2013, about 4.8 million Americans moved across state lines in the previous year. That is down from 5.7 million in 2006 and 7.5 million in 1999. All in all, the percentage of Americans moving across state lines has fallen by about half since the 1990s.
In the era of Obama, people cannot afford to move. They’re flat out broke and cannot find work, most anywhere.
The fact that economists find it troubling that migration rates are in decline is indicative that they’ve buried their heads in the sand.
With a weak demand for labor, stagnant wages, banks outright refusing to lend (you can’t blame them), and non-existent job prospects, the Obama Economy is a train wreck.
Yet still, State Run Media says all is well. Wake up folks, we’re on a downward slide and the Obama Regime is going to take you down with them.
A.B. — We didn’t get over the last 4 or 6 years. We got to this point over the 35-40 years. Both sides are to blame.
An equally interesting story is the rising number of Americans who have chosen to renounce their citizenship in the last few years. Although the numbers are relatively small the trend is disturbing: 235 in 2008 compared to 1,809 in the first half of 2013 (source: IRS; Quarterly Publication of Individuals Who have Chosen to Expatriate, as Required by Section 6039G of the Health Insurance Portability and Accountability Act (HIPPA) of 1996). If the trend continues into the second half of 2013, more than 3,600 Americans will jump ship this year. That’s a 1,500-percent increase in just five years. Are these the seeds of an American diaspora?
The hangover from the real estate bubble sucks.
‘relatively small’ is massive exaggeration.
3000/6000000 is not a group I would consider something to study and use as evidence of a cause and effect relationship.
Smells like fear mongering BS.
In the old days, a bad economy encouraged people to move around to find work, you didn’t have a choice if there was no work in the town you lived in.