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It does make you wonder about other factors or aspects that weren't addressed by the study.
the important things to track are high paying jobs, and individuals with high net worth. the study doesn't even attempt to track that.
this study considers a retired toll booth operator equally as valuable as an engineer, CEO, hedge fund manager, etc.
as someone who lives in a 'retirement haven' of North Carolina, yes we do get some wealthy New Yorkers, but the vast majority are retired police, firefighters, teachers, and such who are moving for retirement.
on the other hand, a firm like Metlife shifting operations down south -- that's an example of a geniune loss for NY. I just don't know how common that is.
the important things to track are high paying jobs, and individuals with high net worth. the study doesn't even attempt to track that.
this study considers a retired toll booth operator equally as valuable as an engineer, CEO, hedge fund manager, etc.
as someone who lives in a 'retirement haven' of North Carolina, yes we do get some wealthy New Yorkers, but the vast majority are retired police, firefighters, teachers, and such who are moving for retirement.
on the other hand, a firm like Metlife shifting operations down south -- that's an example of a geniune loss for NY. I just don't know how common that is.
Not everything is done or move to the South. And the South has a whole is played out. A lot of industries were moved overseas and you have a lot of competition for foreign firms and this effects all companies in all states.
I agree that a retired civil service person/government employee isn't as valuable as say a CEO, engineer, researcher, or hedge fund managers moving to the South. I also think the height of retirees moving to the South was the 80s. Not that it still doesn't happened, but it tampered off some.
The Wall Street banks have moved operations all over the country. But some new stuff has moved to NYC, as companies like Google, Facebook, SAP, among others have moved to NYC recently . A lot of foreign banks have NY offices.
But -- one last point -- I would like to point out the limitations of this study. All they know is the census-based migration of population. They do not know the actual wealth or income of the migrating people. So it is one thing if NY State is losing its high-earners or high-net worth individuals - it is something entirely different if NY State is simply pushing out its unemployed, or anyone who is a net cost to NY State. The study makes no distinction about WHO is leaving.
Unemployed would have no income, or their return would show minimal income and perhaps skew numbers downward. The high earners -- what do you consider high? Personal observations: family retired out of state to FL and some family relocated to FL, NC, & UT. Friends moved to NC & UT. Local university friends moved to MI, VA, UT, AZ, & PA.
Here's the migration/income chart to break things down a little more. Still leaves us with questions. Migration Data
Unemployed would have no income, or their return would show minimal income and perhaps skew numbers downward. The high earners -- what do you consider high? Personal observations: family retired out of state to FL and some family relocated to FL, NC, & UT. Friends moved to NC & UT. Local university friends moved to MI, VA, UT, AZ, & PA.
Here's the migration/income chart to break things down a little more. Still leaves us with questions. Migration Data
From this information, it seems to go in line with what I thought. Florida and NC seem to be where many NYers retire/move to in the South, but NJ was 2nd in terms of migration to and CT and PA were in the top 6, with CA in 5th place. GA and VA were in 7th and 8th place. This is in economic terms.
From this information, it seems to go in line with what I thought. Florida and NC seem to be where many NYers retire/move to in the South, but NJ was 2nd in terms of migration to and CT and PA were in the top 6, with CA in 5th place. GA and VA were in 7th and 8th place. This is in economic terms.
I wonder if NJ, CT, and northeastern PA saw migration from NY partially due to 9-11? I vaguely recall reading articles about people moving out of NYC following the attacks either because their jobs moved or they were shaken and wanted to start anew elsewhere. I met one such couple in Vermont.
Unemployed would have no income, or their return would show minimal income and perhaps skew numbers downward.
you're right, i misunderstood how they calculated the data.
Quote:
Here's the migration/income chart to break things down a little more. Still leaves us with questions. Migration Data
yeah, the links to their source data are broken.
i didn't realize the IRS made that sort of data (Personal tax returns by SS #) available to the public. In fact I'm still confused about HOW the tax foundation got access to that information.
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