Dr. Perryman explains the index and what the values from 2021 can indicate regarding population trends.
LendingTree is out with a report looking at where people apply for loans, and it shows the overwhelming number of Texans never leave the state.
The pandemic created upheaval in multiple areas of Americans' lives last year, including where they live and how they work. The overall volume of moves was down last year due to the complexity created by the virus, but the patterns were both enlightening and harbingers of things to come. While the US population is always mobile in response to economic conditions and preferences, a recent survey by Hire a Helper found that about a quarter of 2020 moves were related to COVID-19, with the most commonly cited reasons being (1) escaping the worst of the pandemic, (2) losing a job or income, and (3) sheltering-in-place with or taking care of family.
The number of people moving to Texas from other states is slowing markedly. The primary reason is that the national economy has become stronger over the past few years and most areas are at or near full employment, diminishing the comparative advantage and some of the rush to the Lone Star State. Given the current relatively low Texas unemployment rate, this could create greater workforce challenges.