Migration: Slowing Down People or Places?
Many reasons have been cited for the decline in the inter-state decline of migration recently, as noticed by different Moving company locations. Some of the most quoted reasons include larger number of dual-income couples who are unable to find new jobs for both in a new place and the ever-aging population. However, according to academicians from the prestigious Princeton University and the economists at the Federal Reserve Bank, Minneapolis, the main reason is associated with the labor market.
According to an Assistant Professor at Princeton, Greg Kaplan and an Economist at the Minneapolis bank, Sam S. Wohl, the recent changes in the migration patterns are linked to the labor market and the understanding of people about new locations. According to them, a major reason behind the fall in inter-state migration is closely associated to these factors. They have revealed this information in a recently published white paper.
Their white paper claims that the decline in migration rate has been going on for several decades. The rate is now half of what it was during the early part of the 90s. The paper offers 2 new explanations for this decline.
The first reason stated by the economists is that the labor markets throughout the country are becoming similar. Therefore, workers don’t need to move to land the best-possible jobs. This has enabled workers to remain at their preferred place of occupation and where they enjoy their life. This has reduced interstate movements and Moving company locations have not grown at the earlier rate.
The second reason is that workers now have more and useful information about other states. This means that there is a lesser chance that they would make a move for which they would regret. According to the white paper, there has been drop of a third of migration between states in the past 2 decades. This is because of reduction in the geographic centralization of occupations.
Overall, the experts claim that it is not the flexibility of the U.S. workers that has fallen, but that not as many workers now need to move interstate. This would just reduce the market size for Moving company locations.
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