Key Highlights
- Getting a new job in different location is one primary reason people move
- New data from LinkedIn indicates smaller metros gaining population
- US Bureau of Labor Statistics indicates people change jobs every 4 years
New data from the US Bureau of Labor Statistics indicates that people, on average, change jobs every four years. Since one of the main reasons people move is for a new job, will people continue moving to a new job every four years now that remote working is becoming a norm rather than just a pandemic occurrence? Or, will people continue moving to more affordable areas while keeping their current job and working remotely?
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In LinkedIn’s latest monthly LinkedIn Workforce Report, this professional network provided insights into migration trends in 20 of the largest US metro areas. LinkedIn compared the inflows and outflows from April to August 2020 to get an idea of the metro areas that experienced the highest gains and declines in net arrivals compared to last year during this same time period.
Metros experiencing the biggest gains in net arrivals included:
– Jacksonville FL +10.7%
– Salt Lake City UT +9.6%
– Sacramento CA +7.6%
– Milwaukee WI +4.5%
– Kansas City MO +3.9%
Metros experiencing the biggest declines in net arrivals included:
– New York City -23.4%
– San Francisco Bay Area -21.1%
– Seattle -10.6%
– Boston -9.9%
– Portland OR -9.6%
LinkedIn points to the following present-tense factors going into migration choices:
- Affordability
- More space
- Employment opportunities
- Faster recovery times from the COVID-19 pandemic
The two areas most affected by pandemic migration inflows and outflows are New York City and San Francisco. Compared to one year ago, both of these cities saw net arrivals drop more than 20%. High costs of housing and living are the main reasons people say they’ve decided to move plus they say they are likely continue to be working remotely.
Where are people moving to from New York (per 10,000 people)?
– Seattle 4.63
– Austin 3.56
– Portland OR 3.04
– Denver 2.62
– Sacramento 2.51
– Phoenix 1.33
– Las Vegas 1.31
– San Diego 0.97
– Boise ID 0.86
Where are people moving to from the San Francisco Bay Area (per 10,000 people)?
– Los Angeles 4.09
-Miami 1.48
– Charlotte NC 1.45
– Dallas-Ft. Worth 1.40
– Denver 1.39
– Seattle 1.32
– Atlanta 1.20
– Tampa 1.18
– Austin 1.17
– San Francisco BA 1.13
Thanks to The National Association of REALTORS®, US Bureau of Labor Statistics and LinkedIn.
Also read: A Very Welcome May Surprise – Unemployment Fell to 13.3%, “Unprecedented” Drop in Rent Prices in San Francisco, Boom in Latino Homeownership Coming
