Wednesday, December 23, 2009
Residents of the Golden State continue to vote with their feet, at least based on this CNN/Money report on domestic migration where California's net loss leads the nation.
#1 CaliforniaNew York was just a hair behind California, followed by Michigan, Illinois, and Ohio. Not surprisingly, Texas leads the U.S. in net inward migration and Wyoming has the fastest growth rate, albeit starting at a very low base, its current population just 533,000. By the way, the Census Bureau provides a wealth of population data online via QuickFacts.
Net loss: 98,798 residents
For years more people have fled the Golden State than have arrived. In the year ended July 1, California was the country's biggest loser, with nearly 100,000 more residents leaving than moving in.
Still, that was an improvement over earlier losses: In 2006 the net decline was 313,081.
Much of that improvement came from the housing bubble bursting. Homes became harder to sell as thousands of foreclosures sat on the market. As a result, many Californians stayed on rather than sell their homes at a loss.
Mobility in the weak economy has declined in general, according to demographer Greg Harper of the Census Bureau. There's no point in moving to find work if few jobs are available in most parts of the country.