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The 19 Fastest Shrinking Big Cities in America

There are many large cities that are suffering from urban decline. Several factors can bring about this fast-shrinking population. Significant contributions and changes to environmental, social, and economic issues can lead to high unemployment rates, a decline in housing, and higher poverty numbers. Although there are currently signs of recovery post-pandemic, many cities don’t have […] The post The 19 Fastest Shrinking Big Cities in America appeared first on 24/7 Wall St.. There are many large cities that are suffering from urban decline. Several factors can bring about this fast-shrinking population. Significant contributions and changes to environmental, social, and economic issues can lead to high unemployment rates, a decline in housing, and higher poverty numbers. Although there are currently signs of recovery post-pandemic, many cities don’t have the same numbers they once had. Several American cities over the past half-decade or so have undergone extreme population growth, while a number of prominent American urban areas recorded a major exodus of residents. 2022 saw the U.S. population experience a historically slow growth, increasing just 0.4% compared to the previous year. Although many of these declines occurred in Rust Belt metropolitan areas, there are quite a few exceptions.  In order to identify the most rapidly shrinking large United States cities, 24/7 Wall St. reviewed population data from the U.S. Census Bureau’s 2021 American Community Survey one-year estimates. All 19 metropolitan statistical areas with at least a 5% population drop from 2016 to 2021 were listed. We added seasonally-adjusted December employment figures – used to calculate employment growth from 2016 to 2021 – from the Bureau of Labor Statistics.  A substantial share of the nation’s population resides within three states: California, Texas, and Florida, with the latter two states contributing significantly to population growth. This illustrates that the enduring shifts in U.S. geographical patterns remain unchanged. However, our findings reveal that even within the most populous states, specific metro areas experienced a decline in residents. (Also see, the 15 countries Americans are moving to the most.) The metropolitan areas on this list range from the least-populous Danville, Illinois, with 73,000 residents, to the more populated Corpus Christi, Texas, with 423,000 residents. While not on this list, some smaller population centers are also shrinking. These are America’s disappearing small towns. Here are the fastest shrinking big cities in America. 19. Cumberland, MD-WV 2016-2021 pop. growth: -5.0% (-4,955) 2021 population: 94,586 — #364 highest out of 381 2016 population: 99,541 — #354 highest out of 381 2016-2021 employment growth: -1.6% — #100 largest decrease out of 150 Dec 2021 unemployment rate: 5.0% — #298 lowest out of 381 Dec 2016 unemployment rate: 5.9% — #316 lowest out of 381 18. Fairbanks, AK 2016-2021 pop. growth: -5.0% (-5,012) 2021 population: 95,593 — #363 highest out of 381 2016 population: 100,605 — #351 highest out of 381 2016-2021 employment growth: -2.2% — #86 largest decrease out of 150 Dec 2021 unemployment rate: 4.7% — #275 lowest out of 381 Dec 2016 unemployment rate: 6.0% — #322 lowest out of 381 17. St. Joseph, MO-KS 2016-2021 pop. growth: -5.7% (-7,254) 2021 population: 120,274 — #326 highest out of 381 2016 population: 127,528 — #306 highest out of 381 2016-2021 employment growth: -3.7% — #55 largest decrease out of 150 Dec 2021 unemployment rate: 2.7% — #65 lowest out of 381 Dec 2016 unemployment rate: 3.9% — #84 lowest out of 381 16. Weirton-Steubenville, WV-OH 2016-2021 pop. growth: -5.8% (-7,063) 2021 population: 113,798 — #336 highest out of 381 2016 population: 120,861 — #321 highest out of 381 2016-2021 employment growth: +0.1% — #230 largest increase out of 231 Dec 2021 unemployment rate: 5.3% — #313 lowest out of 381 Dec 2016 unemployment rate: 7.2% — #369 lowest out of 381 15. Goldsboro, NC 2016-2021 pop. growth: -5.9% (-7,315) 2021 population: 116,835 — #331 highest out of 381 2016 population: 124,150 — #313 highest out of 381 2016-2021 employment growth: -2.4% — #79 largest decrease out of 150 Dec 2021 unemployment rate: 4.0% — #210 lowest out of 381 Dec 2016 unemployment rate: 5.7% — #300 lowest out of 381 14. Beckley, WV 2016-2021 pop. growth: -6.0% (-7,226) 2021 population: 113,698 — #337 highest out of 381 2016 population: 120,924 — #320 highest out of 381 2016-2021 employment growth: +6.5% — #84 largest increase out of 231 Dec 2021 unemployment rate: 3.9% — #197 lowest out of 381 Dec 2016 unemployment rate: 6.3% — #339 lowest out of 381 13. Danville, IL 2016-2021 pop. growth: -6.4% (-5,016) 2021 population: 73,095 — #377 highest out of 381 2016 population: 78,111 — #377 highest out of 381 2016-2021 employment growth: -5.0% — #37 largest decrease out of 150 Dec 2021 unemployment rate: 5.1% — #305 lowest out of 381 Dec 2016 unemployment rate: 7.0% — #367 lowest out of 381 12. Corpus Christi, TX 2016-2021 pop. growth: -6.6% (-30,012) 2021 population: 422,778 — #130 highest out of 381 2016 population: 452,790 — #114 highest out of 381 2016-2021 employment growth: -2.4% — #77 largest decrease out of 150 Dec 2021 unemployment rate: 6.3% — #354 lowest out of 381 Dec 2016 unemployment rate: 6.3% — #339 lowest out of 381 11. Champaign-Urbana, IL 2016-2021 pop. growth: -7.2% (-17,176) 2021 population: 222,696 — #204 highest out of 381 2016 population: 239,872 — #189 highest out of 381 2016-2021 employment growth: +2.1% — #173 largest increase out of 231 Dec 2021 unemployment rate: 3.7% — #162 lowest out of 381 Dec 2016 unemployment rate: 4.9% — #210 lowest out of 381 10. Pine Bluff, AR 2016-2021 pop. growth: -7.8% (-7,324) 2021 population: 86,747 — #367 highest out of 381 2016 population: 94,071 — #363 highest out of 381 2016-2021 employment growth: -2.0% — #87 largest decrease out of 150 Dec 2021 unemployment rate: 4.8% — #282 lowest out of 381 Dec 2016 unemployment rate: 5.1% — #233 lowest out of 381 9. Chico, CA 2016-2021 pop. growth: -8.2% (-18,555) 2021 population: 208,309 — #212 highest out of 381 2016 population: 226,864 — #196 highest out of 381 2016-2021 employment growth: -8.5% — #8 largest decrease out of 150 Dec 2021 unemployment rate: 5.5% — #331 lowest out of 381 Dec 2016 unemployment rate: 6.4% — #346 lowest out of 381 8. Blacksburg-Christiansburg, VA 2016-2021 pop. growth: -8.2% (-15,007) 2021 population: 168,404 — #254 highest out of 381 2016 population: 183,411 — #226 highest out of 381 2016-2021 employment growth: +2.3% — #163 largest increase out of 231 Dec 2021 unemployment rate: 2.9% — #79 lowest out of 381 Dec 2016 unemployment rate: 4.6% — #172 lowest out of 381 7. Bloomington, IL 2016-2021 pop. growth: -8.8% (-16,437) 2021 population: 170,889 — #251 highest out of 381 2016 population: 187,326 — #224 highest out of 381 2016-2021 employment growth: -8.9% — #5 largest decrease out of 150 Dec 2021 unemployment rate: 3.8% — #181 lowest out of 381 Dec 2016 unemployment rate: 4.8% — #199 lowest out of 381 6. Panama City, FL 2016-2021 pop. growth: -10.8% (-21,725) 2021 population: 179,168 — #240 highest out of 381 2016 population: 200,893 — #217 highest out of 381 2016-2021 employment growth: +0.7% — #208 largest increase out of 231 Dec 2021 unemployment rate: 3.5% — #141 lowest out of 381 Dec 2016 unemployment rate: 4.6% — #172 lowest out of 381 5. Grand Island, NE 2016-2021 pop. growth: -11.0% (-9,409) 2021 population: 76,175 — #376 highest out of 381 2016 population: 85,584 — #368 highest out of 381 2016-2021 employment growth: +1.6% — #183 largest increase out of 231 Dec 2021 unemployment rate: 1.8% — #5 lowest out of 381 Dec 2016 unemployment rate: 3.2% — #28 lowest out of 381 4. Sioux City, IA-NE-SD 2016-2021 pop. growth: -11.0% (-18,547) 2021 population: 149,400 — #282 highest out of 381 2016 population: 167,947 — #247 highest out of 381 2016-2021 employment growth: -0.2% — #146 largest decrease out of 150 Dec 2021 unemployment rate: 2.9% — #79 lowest out of 381 Dec 2016 unemployment rate: 3.5% — #54 lowest out of 381 3. Shreveport-Bossier City, LA 2016-2021 pop. growth: -11.9% (-52,612) 2021 population: 389,155 — #138 highest out of 381 2016 population: 441,767 — #120 highest out of 381 2016-2021 employment growth: -1.6% — #98 largest decrease out of 150 Dec 2021 unemployment rate: 4.6% — #270 lowest out of 381 Dec 2016 unemployment rate: 6.2% — #331 lowest out of 381 2. Fort Smith, AR-OK 2016-2021 pop. growth: -11.9% (-33,566) 2021 population: 247,661 — #191 highest out of 381 2016 population: 281,227 — #169 highest out of 381 2016-2021 employment growth: +0.4% — #216 largest increase out of 231 Dec 2021 unemployment rate: 2.7% — #65 lowest out of 381 Dec 2016 unemployment rate: 4.2% — #115 lowest out of 381 1. Kalamazoo-Portage, MI 2016-2021 pop. growth: -22.5% (-75,769) 2021 population: 261,108 — #187 highest out of 381 2016 population: 336,877 — #151 highest out of 381 2016-2021 employment growth: -3.3% — #61 largest decrease out of 150 Dec 2021 unemployment rate: 5.0% — #298 lowest out of 381 Dec 2016 unemployment rate: 4.5% — #156 lowest out of 381 Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit. The post The 19 Fastest Shrinking Big Cities in America appeared first on 24/7 Wall St.......»»

Category: blogSource: 247wallstDec 2nd, 2023

These Are The US States Losing (& Gaining) Population

These Are The US States Losing (& Gaining) Population As pandemic patterns of U.S. population growth are normalizing, three states have remained among the U.S. jurisdictions which are shrinking. Statista's Katharina Buchholz reports that, according to a December release by the Census Bureau, California, Illinois and New York - along with West Virginia, Louisiana, Pennsylvania, Hawaii and Oregon - lost population in 2023 compared to 2022. Throughout the new Census first released in 2020, all three states have shown continuously sinking population numbers. New York and Illinois even started to see their populations decline under the old Census since 2016 and 2014, respectively, while California experienced a stagnating number of inhabitants in 2019. While during pandemic conditions, many other states experienced the same shrinking populations (19 at the height of the trend in 2022), the release of the 2023 data now shows that the demographic problems that have plagued some states since before the pandemic are still ongoing. You will find more infographics at Statista Americans resettling because of high cost of living do play a role in this development, but changes in immigration into the U.S. have also had a big part in the state's ongoing population decline as immigrants increasingly diversify their destinations in the U.S., favoring - like domestic migrants - the Sun Belt states, but also smaller cities. The story of New York, the country's fastest shrinking state as of the latest Census release, fits this mold. New York lost 0.5 percent of its population between July 2022 and June 2023 and the previous Census had recorded a decreasing population in the state since 2016. The speed of New York's population shrink also seems to have sped up since - from just 0.1 percent in 2016 to 0.4 percent in 2019 and now 0.5 percent in 2023. While Covid-19-era losses were even higher in New York, which became the poster child of pandemic city flight, normalization seems to mean that New York is now back on its trajectory of steadily increasing population loss. The state experienced a negative domestic net migration of more than 200,000 people last year and it received only a net 73,900 people from overseas, staying behind Florida, California and Texas for international migration. Tyler Durden Mon, 02/05/2024 - 18:00.....»»

Category: smallbizSource: nytFeb 5th, 2024

Town With The Highest Poverty Rate In Every State

The United States is, in many ways, the center of gravity of the global economy. The U.S. dollar has been the world’s leading reserve currency since the end of World War II, and American gross domestic product accounts for over a quarter of economic activity worldwide. Despite these advantages, serious financial hardship is widespread among […] The post Town With The Highest Poverty Rate In Every State appeared first on 24/7 Wall St.. The United States is, in many ways, the center of gravity of the global economy. The U.S. dollar has been the world’s leading reserve currency since the end of World War II, and American gross domestic product accounts for over a quarter of economic activity worldwide. Despite these advantages, serious financial hardship is widespread among much of the U.S. population.  The U.S. Department of Health and Human Services sets the poverty line at an annual income of $14,580 for individuals and $30,000 for a family of four, with slightly higher thresholds in Alaska and Hawaii. Based on the latest estimates from the U.S. Census Bureau’s American Community Survey, more than 40.5 million Americans are living on such low incomes — or about 12.5% of the population.  Many of the root causes of poverty are related to broad social and economic conditions, and partially as a result, poverty in the U.S. is often geographically concentrated. (Here is a look at the fastest shrinking local economy in every state.) Using five-year estimates from the Census’ 2022 ACS, 24/7 Wall St. identified the town with the highest poverty rate in every state. We considered all cities, towns, villages, and unincorporated communities with populations between 1,000 and 25,000 in our analysis.  Among the 50 towns on this list, poverty rates range from 23.3% to over 90% — and are anywhere between 13 to 82 percentage points higher than the poverty rate across the state.  The high poverty rates in many of these places are linked to weak job markets. In half of the towns on this list, the five-year average unemployment rate is over 10%. For those who are able to find work, many of the available jobs are not especially well paying. In most of these towns, the typical household earns less than $40,000 a year. (This is what you need to actually earn to be middle class in your state.) Federal aid initiatives, such as the Supplemental Nutrition Assistance Program, or SNAP, are designed to reduce poverty and alleviate some of the hardships associated with it. Not surprisingly, the share of households receiving SNAP benefits exceeds the statewide recipiency rate in nearly every town on this list.  Here is the town with the highest poverty rate in every state. Alabama: Uniontown Poverty rate: 53.9% (Alabama: 15.7%) Median household income: $24,355 (Alabama: $59,609) Households receiving SNAP benefits: 60.1% (Alabama: 13.3%) Avg. 5-yr. unemployment rate: 21.0% (Alabama: 5.1%) No. of towns in Alabama considered: 288 Alaska: Alakanuk Poverty rate: 39.3% (Alaska: 10.5%) Median household income: $41,875 (Alaska: $86,370) Households receiving SNAP benefits: 46.7% (Alaska: 10.5%) Avg. 5-yr. unemployment rate: 27.5% (Alaska: 6.0%) No. of towns in Alaska considered: 70 Arizona: Cibecue Poverty rate: 76.1% (Arizona: 13.1%) Median household income: $18,250 (Arizona: $72,581) Households receiving SNAP benefits: 54.1% (Arizona: 10.1%) Avg. 5-yr. unemployment rate: 16.3% (Arizona: 5.3%) No. of towns in Arizona considered: 169 Arkansas: McAlmont Poverty rate: 65.3% (Arkansas: 16.2%) Median household income: $30,517 (Arkansas: $56,335) Households receiving SNAP benefits: 22.9% (Arkansas: 11.0%) Avg. 5-yr. unemployment rate: 46.9% (Arkansas: 5.1%) No. of towns in Arkansas considered: 189 California: Bodfish Poverty rate: 51.2% (California: 12.1%) Median household income: $27,215 (California: $91,905) Households receiving SNAP benefits: 35.1% (California: 10.3%) Avg. 5-yr. unemployment rate: 21.2% (California: 6.4%) No. of towns in California considered: 748 Colorado: Rocky Ford Poverty rate: 46.1% (Colorado: 9.6%) Median household income: $31,418 (Colorado: $87,598) Households receiving SNAP benefits: 38.0% (Colorado: 7.6%) Avg. 5-yr. unemployment rate: 10.9% (Colorado: 4.5%) No. of towns in Colorado considered: 186 Connecticut: Canaan Poverty rate: 40.5% (Connecticut: 10.1%) Median household income: $31,130 (Connecticut: $90,213) Households receiving SNAP benefits: 26.1% (Connecticut: 11.4%) Avg. 5-yr. unemployment rate: 12.6% (Connecticut: 5.9%) No. of towns in Connecticut considered: 131 Delaware: Laurel Poverty rate: 39.6% (Delaware: 11.1%) Median household income: $42,710 (Delaware: $79,325) Households receiving SNAP benefits: 40.5% (Delaware: 10.7%) Avg. 5-yr. unemployment rate: 13.9% (Delaware: 5.4%) No. of towns in Delaware considered: 52 Florida: Homestead Base Poverty rate: 83.0% (Florida: 12.9%) Median household income: $N/A (Florida: $67,917) Households receiving SNAP benefits: 89.5% (Florida: 13.0%) Avg. 5-yr. unemployment rate: 48.5% (Florida: 5.0%) No. of towns in Florida considered: 603 Georgia: Remerton Poverty rate: 53.7% (Georgia: 13.5%) Median household income: $25,052 (Georgia: $71,355) Households receiving SNAP benefits: 24.2% (Georgia: 12.1%) Avg. 5-yr. unemployment rate: 7.3% (Georgia: 5.2%) No. of towns in Georgia considered: 320 Hawaii: Leilani Estates Poverty rate: 36.8% (Hawaii: 9.6%) Median household income: $23,750 (Hawaii: $94,814) Households receiving SNAP benefits: 25.7% (Hawaii: 10.9%) Avg. 5-yr. unemployment rate: 19.2% (Hawaii: 4.7%) No. of towns in Hawaii considered: 112 Idaho: Glenns Ferry Poverty rate: 37.7% (Idaho: 11.0%) Median household income: $36,413 (Idaho: $70,214) Households receiving SNAP benefits: 24.8% (Idaho: 8.3%) Avg. 5-yr. unemployment rate: 2.4% (Idaho: 3.7%) No. of towns in Idaho considered: 89 Illinois: Washington Park Poverty rate: 42.2% (Illinois: 11.8%) Median household income: $33,036 (Illinois: $78,433) Households receiving SNAP benefits: 40.3% (Illinois: 13.0%) Avg. 5-yr. unemployment rate: 15.9% (Illinois: 5.9%) No. of towns in Illinois considered: 607 Indiana: English Poverty rate: 51.3% (Indiana: 12.3%) Median household income: $26,599 (Indiana: $67,173) Households receiving SNAP benefits: 23.8% (Indiana: 9.0%) Avg. 5-yr. unemployment rate: 3.0% (Indiana: 4.5%) No. of towns in Indiana considered: 306 Iowa: Postville Poverty rate: 25.7% (Iowa: 11.1%) Median household income: $46,522 (Iowa: $70,571) Households receiving SNAP benefits: 10.5% (Iowa: 9.4%) Avg. 5-yr. unemployment rate: 6.9% (Iowa: 3.8%) No. of towns in Iowa considered: 259 Kansas: Pittsburg Poverty rate: 29.4% (Kansas: 11.6%) Median household income: $42,371 (Kansas: $69,747) Households receiving SNAP benefits: 14.1% (Kansas: 7.0%) Avg. 5-yr. unemployment rate: 4.0% (Kansas: 4.0%) No. of towns in Kansas considered: 183 Kentucky: Cumberland Poverty rate: 59.8% (Kentucky: 16.1%) Median household income: $32,716 (Kentucky: $60,183) Households receiving SNAP benefits: 42.7% (Kentucky: 12.6%) Avg. 5-yr. unemployment rate: 42.5% (Kentucky: 5.1%) No. of towns in Kentucky considered: 224 Louisiana: Ferriday Poverty rate: 64.0% (Louisiana: 18.7%) Median household income: $26,513 (Louisiana: $57,852) Households receiving SNAP benefits: 39.8% (Louisiana: 16.1%) Avg. 5-yr. unemployment rate: 23.2% (Louisiana: 6.5%) No. of towns in Louisiana considered: 251 Maine: Machias Poverty rate: 36.3% (Maine: 10.9%) Median household income: $25,278 (Maine: $68,251) Households receiving SNAP benefits: 29.6% (Maine: 11.7%) Avg. 5-yr. unemployment rate: 8.6% (Maine: 4.0%) No. of towns in Maine considered: 98 Maryland: Eden Poverty rate: 33.6% (Maryland: 9.3%) Median household income: $28,808 (Maryland: $98,461) Households receiving SNAP benefits: 51.7% (Maryland: 10.8%) Avg. 5-yr. unemployment rate: 10.3% (Maryland: 5.1%) No. of towns in Maryland considered: 274 Massachusetts: Monson Center Poverty rate: 28.2% (Massachusetts: 9.9%) Median household income: $51,902 (Massachusetts: $96,505) Households receiving SNAP benefits: 22.9% (Massachusetts: 12.9%) Avg. 5-yr. unemployment rate: 16.6% (Massachusetts: 5.3%) No. of towns in Massachusetts considered: 156 Michigan: Benton Harbor Poverty rate: 44.2% (Michigan: 13.1%) Median household income: $26,592 (Michigan: $68,505) Households receiving SNAP benefits: 51.5% (Michigan: 12.7%) Avg. 5-yr. unemployment rate: 20.2% (Michigan: 6.0%) No. of towns in Michigan considered: 371 Minnesota: Moose Lake Poverty rate: 49.5% (Minnesota: 9.3%) Median household income: $49,722 (Minnesota: $84,313) Households receiving SNAP benefits: 13.9% (Minnesota: 7.4%) Avg. 5-yr. unemployment rate: 0.9% (Minnesota: 4.0%) No. of towns in Minnesota considered: 312 Mississippi: Renova Poverty rate: 54.9% (Mississippi: 19.2%) Median household income: $25,974 (Mississippi: $52,985) Households receiving SNAP benefits: 39.8% (Mississippi: 13.8%) Avg. 5-yr. unemployment rate: 8.0% (Mississippi: 6.4%) No. of towns in Mississippi considered: 168 Missouri: Flordell Hills Poverty rate: 50.2% (Missouri: 12.8%) Median household income: $32,906 (Missouri: $65,920) Households receiving SNAP benefits: 41.6% (Missouri: 10.0%) Avg. 5-yr. unemployment rate: 31.7% (Missouri: 4.3%) No. of towns in Missouri considered: 336 Montana: Lame Deer Poverty rate: 47.5% (Montana: 12.4%) Median household income: $31,250 (Montana: $66,341) Households receiving SNAP benefits: 21.1% (Montana: 8.6%) Avg. 5-yr. unemployment rate: 25.8% (Montana: 3.9%) No. of towns in Montana considered: 88 Nebraska: Fullerton Poverty rate: 23.3% (Nebraska: 10.4%) Median household income: $51,466 (Nebraska: $71,722) Households receiving SNAP benefits: 10.2% (Nebraska: 8.0%) Avg. 5-yr. unemployment rate: 6.0% (Nebraska: 3.1%) No. of towns in Nebraska considered: 104 Nevada: Wells Poverty rate: 43.3% (Nevada: 12.7%) Median household income: $55,917 (Nevada: $71,646) Households receiving SNAP benefits: 2.3% (Nevada: 11.9%) Avg. 5-yr. unemployment rate: 0.4% (Nevada: 7.0%) No. of towns in Nevada considered: 50 New Hampshire: Winchester Poverty rate: 33.1% (New Hampshire: 7.3%) Median household income: $45,298 (New Hampshire: $90,845) Households receiving SNAP benefits: 13.7% (New Hampshire: 6.0%) Avg. 5-yr. unemployment rate: 6.0% (New Hampshire: 3.6%) No. of towns in New Hampshire considered: 53 New Jersey: Penns Grove Poverty rate: 40.5% (New Jersey: 9.7%) Median household income: $29,821 (New Jersey: $97,126) Households receiving SNAP benefits: 41.6% (New Jersey: 8.5%) Avg. 5-yr. unemployment rate: 15.5% (New Jersey: 6.2%) No. of towns in New Jersey considered: 501 New Mexico: Alamo Poverty rate: 69.8% (New Mexico: 18.3%) Median household income: $24,118 (New Mexico: $58,722) Households receiving SNAP benefits: 37.7% (New Mexico: 18.1%) Avg. 5-yr. unemployment rate: 22.5% (New Mexico: 6.1%) No. of towns in New Mexico considered: 144 New York: New Square Poverty rate: 64.2% (New York: 13.6%) Median household income: $27,488 (New York: $81,386) Households receiving SNAP benefits: 64.4% (New York: 14.6%) Avg. 5-yr. unemployment rate: 8.1% (New York: 6.2%) No. of towns in New York considered: 750 North Carolina: Bonnetsville Poverty rate: 53.0% (North Carolina: 13.3%) Median household income: $41,135 (North Carolina: $66,186) Households receiving SNAP benefits: 30.1% (North Carolina: 12.3%) Avg. 5-yr. unemployment rate: 4.5% (North Carolina: 5.0%) No. of towns in North Carolina considered: 393 North Dakota: Fort Totten Poverty rate: 41.7% (North Dakota: 10.8%) Median household income: $30,234 (North Dakota: $73,959) Households receiving SNAP benefits: 52.4% (North Dakota: 6.3%) Avg. 5-yr. unemployment rate: 6.2% (North Dakota: 2.9%) No. of towns in North Dakota considered: 45 Ohio: Lincoln Heights Poverty rate: 62.9% (Ohio: 13.3%) Median household income: $14,676 (Ohio: $66,990) Households receiving SNAP benefits: 65.4% (Ohio: 12.2%) Avg. 5-yr. unemployment rate: 26.5% (Ohio: 5.0%) No. of towns in Ohio considered: 611 Oklahoma: Tyrone Poverty rate: 48.9% (Oklahoma: 15.2%) Median household income: $N/A (Oklahoma: $61,364) Households receiving SNAP benefits: 4.7% (Oklahoma: 13.0%) Avg. 5-yr. unemployment rate: N/A% (Oklahoma: 4.8%) No. of towns in Oklahoma considered: 217 Oregon: Grand Ronde Poverty rate: 37.5% (Oregon: 11.9%) Median household income: $29,674 (Oregon: $76,632) Households receiving SNAP benefits: 52.7% (Oregon: 14.9%) Avg. 5-yr. unemployment rate: 7.5% (Oregon: 5.5%) No. of towns in Oregon considered: 202 Pennsylvania: Ashley Poverty rate: 39.7% (Pennsylvania: 11.8%) Median household income: $39,234 (Pennsylvania: $73,170) Households receiving SNAP benefits: 30.3% (Pennsylvania: 13.6%) Avg. 5-yr. unemployment rate: 7.6% (Pennsylvania: 5.4%) No. of towns in Pennsylvania considered: 922 Rhode Island: Central Falls Poverty rate: 24.4% (Rhode Island: 11.2%) Median household income: $43,092 (Rhode Island: $81,370) Households receiving SNAP benefits: 32.7% (Rhode Island: 14.5%) Avg. 5-yr. unemployment rate: 8.3% (Rhode Island: 5.8%) No. of towns in Rhode Island considered: 19 South Carolina: Saxon Poverty rate: 48.7% (South Carolina: 14.4%) Median household income: $25,231 (South Carolina: $63,623) Households receiving SNAP benefits: 32.4% (South Carolina: 10.5%) Avg. 5-yr. unemployment rate: 11.6% (South Carolina: 5.1%) No. of towns in South Carolina considered: 234 South Dakota: Rosebud Poverty rate: 57.2% (South Dakota: 12.3%) Median household income: $47,813 (South Dakota: $69,457) Households receiving SNAP benefits: 42.1% (South Dakota: 8.1%) Avg. 5-yr. unemployment rate: 19.8% (South Dakota: 3.1%) No. of towns in South Dakota considered: 70 Tennessee: Red Boiling Springs Poverty rate: 43.8% (Tennessee: 14.0%) Median household income: $30,046 (Tennessee: $64,035) Households receiving SNAP benefits: 50.9% (Tennessee: 11.7%) Avg. 5-yr. unemployment rate: 10.0% (Tennessee: 5.0%) No. of towns in Tennessee considered: 268 Texas: Carrizo Hill Poverty rate: 96.0% (Texas: 13.9%) Median household income: $N/A (Texas: $73,035) Households receiving SNAP benefits: 25.1% (Texas: 11.5%) Avg. 5-yr. unemployment rate: N/A% (Texas: 5.2%) No. of towns in Texas considered: 894 Utah: Hideout Poverty rate: 36.4% (Utah: 8.5%) Median household income: $73,472 (Utah: $86,833) Households receiving SNAP benefits: 8.8% (Utah: 5.5%) Avg. 5-yr. unemployment rate: N/A% (Utah: 3.3%) No. of towns in Utah considered: 133 Vermont: Brattleboro Poverty rate: 26.1% (Vermont: 10.4%) Median household income: $42,776 (Vermont: $74,014) Households receiving SNAP benefits: 21.9% (Vermont: 10.3%) Avg. 5-yr. unemployment rate: 9.2% (Vermont: 3.8%) No. of towns in Vermont considered: 41 Virginia: Elliston Poverty rate: 59.8% (Virginia: 10.0%) Median household income: $33,870 (Virginia: $87,249) Households receiving SNAP benefits: 9.0% (Virginia: 8.3%) Avg. 5-yr. unemployment rate: N/A% (Virginia: 4.3%) No. of towns in Virginia considered: 329 Washington: Moses Lake North Poverty rate: 37.2% (Washington: 9.9%) Median household income: $52,977 (Washington: $90,325) Households receiving SNAP benefits: 38.7% (Washington: 11.1%) Avg. 5-yr. unemployment rate: 4.7% (Washington: 4.9%) No. of towns in Washington considered: 342 West Virginia: Rupert Poverty rate: 43.5% (West Virginia: 16.8%) Median household income: $27,244 (West Virginia: $55,217) Households receiving SNAP benefits: 32.4% (West Virginia: 16.6%) Avg. 5-yr. unemployment rate: 2.4% (West Virginia: 6.0%) No. of towns in West Virginia considered: 138 Wisconsin: Keshena Poverty rate: 38.7% (Wisconsin: 10.7%) Median household income: $43,000 (Wisconsin: $72,458) Households receiving SNAP benefits: 49.4% (Wisconsin: 10.4%) Avg. 5-yr. unemployment rate: 8.4% (Wisconsin: 3.4%) No. of towns in Wisconsin considered: 348 Wyoming: Fort Washakie Poverty rate: 27.1% (Wyoming: 10.7%) Median household income: $40,000 (Wyoming: $72,495) Households receiving SNAP benefits: 18.8% (Wyoming: 4.8%) Avg. 5-yr. unemployment rate: 18.5% (Wyoming: 3.8%) No. of towns in Wyoming considered: 52 Methodology To determine the town with the highest poverty rate in every state, 24/7 Wall St. reviewed five-year estimates of the percentage of people living below the poverty line in towns nationwide from the U.S. Census Bureau’s 2022 American Community Survey. We considered all cities, towns, villages, and unincorporated communities with available data and populations between 1,000 and 25,000. The presence of a major college or university can distort economic realities of a given area, and as a result, places where 25% or more of the population are enrolled in college or graduate school were excluded. We also excluded places where the population for whom the poverty status was determined totaled less than 1,000.  Additional data on median household income, educational attainment, SNAP recipiency, and unemployment are also five-year estimates from the 2022 ACS.  URGENT – New Seats Available (sponsored) Top financial advisors are now accepting new clients for 2024! Finding the right advisor can be the difference between retiring early, or working forever. Don’t waste a moment matching with the right advisor for you. Every moment today can mean riches tomorrow, with the right advisor by your side. Use the advisor match tool below, or click here now, to find your financial freedom! The post Town With The Highest Poverty Rate In Every State appeared first on 24/7 Wall St.......»»

Category: personnelSource: nytJan 11th, 2024

These 10 states lured the most movers last year— and No. 1 is unexpected

Florida and Texas lure thousands of Americans every year. But the state with the biggest share of inbound movers is the polar opposite. Maine saw the highest share of inbound movers in 2023, for reasons that could include access to nature and more living space.Andrew Siegel/ShutterstockAmericans love to know where people are moving — partly to get inspiration for their own lives.Moving company Atlas Van Lines tracked the states with the biggest share of inbound movers in 2023.From Montana to Florida, here are the top 10 states people moved to — and possible reasons why.Americans are fascinated by where people move in search of a better life.Atlas Van Lines, a major moving company that facilitates about 80,000 relocations a year, tracks data on the number of moves into a state compared with the number of moves out.It calculated the states with the biggest shares of inbound movers in 2023.Take the numbers with a grain of salt: Atlas' ranking of the places people are leaving doesn't always align with Census-derived population data on which states are growing and which are shrinking. For example, South Carolina was the fastest-growing state from July 2022 to 2023, but doesn't appear on Atlas' list.Atlas doesn't collect information on its customers' motivations for moving, so we've compiled some possible reasons people would choose each of the top 10 states. Reasons can range from a lower cost of living to better weather.Read on for the top 10 relocation hotspots of 2023, from Texas to Maine.10. TexasInbound movers are opting for smaller cities like Katy, Texas over major metropolitan areas like Dallas or Austin. simonkr/Getty ImagesPopulation change from 2022 to 2033: 473,453 new residentsPercent of inbound moves in 2023: 56%Percent of outbound moves in 2023: 44%Possible reasons: Lower cost of living, no individual income tax, better weatherCalifornians in particular are moving to Texas because it's relatively inexpensive; some are able to afford a bigger home in Texas. The state's smaller cities are particularly attractive to movers.9. Washington, D.C.People are flocking to the capital for better jobs, networking opportunities, and even the snowy winters. f11photo/ShutterstockPopulation change from 2022 to 2033: 8,023 new residentsPercent of inbound moves in 2023: 57%Percent of outbound moves in 2023: 43%Possible reasons: Jobs in government agencies or many colleges and universities, museums, cultureUrsula Lauriston, who moved to DC to work for the Congressional Black Caucus Foundation, describes the city's ambitious residents, dating scene, and snowy winters.8. New MexicoNew Mexico has become a popular destination for its beautiful vistas, national parks, and affordability. gmeland/ShutterstockPopulation change from 2022 to 2033: 895 new residentsPercent of inbound moves in 2023: 57%Percent of outbound moves in 2023: 43%Possible reasons: Beautiful landscape, national parks, lower cost of living relative to some nearby statesAlbuquerque, New Mexico's largest city, is "the last affordable city in the Southwest," according to local real-estate agent Skip Adams, who grew up there, moved away, then moved back. Adams now advises others looking to relocate to Albuquerque.7. FloridaThe Sunshine State is new hub for Gen Z-ers and retirees alike…and it might have something to do with the appeal of Disney World. Joseph Prezioso/Anadolu Agency via Getty ImagesPopulation change from 2022 to 2033: 365,205 new residentsPercent of inbound moves in 2023: 58%Percent of outbound moves in 2023: 42%Possible reasons: Better weather, no state income tax, the beach, Disney WorldIt's not just retirees: Some Gen Zers, born between 1997 and 2012, have moved to Tampa and are finding it walkable, affordable, and fun.6. ArkansasBentonville, where Walmart is based, is becoming a hotspot for young professionals and tourists. Visit BentonvillePopulation change from 2022 to 2033: 21,328 new residentsPercent of inbound moves in 2023: 58%Percent of outbound moves in 2023: 42%Possible reasons: Cheaper homes and property taxes, access to natureYoung, outdoorsy couples and families have recently taken an interest in Arkansas. Parts of the state even offer money to people to move here. Plus, Bentonville, where Walmart is based, is having a renaissance.5. WashingtonWashington is cheaper alternative to California with many of the same draws — a plethora of opportunities for outdoor activities and tech hubs like Seattle.Kirk Fisher/ShutterstockPopulation change from 2022 to 2033: 28,403 new residentsPercent of inbound moves in 2023: 59%Percent of outbound moves in 2023: 41%Possible reasons: Cheaper than California, a robust tech scene, hiking, skiingA Yelp product manager moved from San Francisco to a small town in Washington state and found his mortgage in Washington is half as much as his SF rent.4. MontanaBetween the low cost of living and low tax rates, residents are getting more bang for their buck in Montana. Jacob Boomsma/ShutterstockPopulation change from 2022 to 2033: 9,934 new residentsPercent of inbound moves in 2023: 59%Percent of outbound moves in 2023: 41%Possible reasons: Access to nature, lower cost of living, wide open spaceA YouTuber who moved from New York City to Montana said that she could afford to move into a five-bedroom house and that overall her money goes further.3. New HampshireNew Hampshire is a haven for college grads looking for affordable housing and job opportunities in the growing tech scene. Wangkun Jia/ShutterstockPopulation change from 2022 to 2033: 3,051 new residentsPercent of inbound moves in 2023: 60%Percent of outbound moves in 2023: 40%Possible reasons: Houses that are more affordable than in neighboring states, access to natureA smaller New Hampshire city is a growing tech hub, while New England draws many recent college graduates.2. North CarolinaJob opportunities, affordable housing, and good weather — North Carolina seems to have it all. Pawel Gaul/ Getty ImagesPopulation change from 2022 to 2033: 139,526 new residentsPercent of inbound moves in 2023: 64%Percent of outbound moves in 2023: 36%Possible reasons: More affordable homes, more space, better weather, and proximity to both the mountains and the beachPeople who have moved to North Carolina recently told BI they were motivated by job opportunities and a lower cost of living than in some other states.1. MaineWith beautiful natural parks, like Acadia National Park, it's no wonder that Maine is drawing residents looking for access to nature. Michael Ver Sprill/Getty ImagesPopulation change from 2022 to 2033: 6,384 new residentsPercent of inbound moves in 2023: 64%Percent of outbound moves in 2023: 36%Possible reasons: Access to nature, neighborly atmosphere, more space, better weatherPeople who have moved to Maine recently have told Business Insider they like being surrounded by nature and the extra space and joys of more rural living.Read the original article on Business Insider.....»»

Category: dealsSource: nytJan 1st, 2024

A Gen Xer who moved to a small city in North Georgia from Portland, Oregon said she "couldn"t live there anymore" amid rising costs

A Gen Xer moved to Canton, a city an hour north of Atlanta, and feels much more at home than in Portland, Oregon. T. D. Larson moved to Canton, a city almost an hour north of Atlanta, Georgia.Kevin Ruck/ShutterstockA Gen Xer moved to a city an hour north of Atlanta and feels much more at home than in Portland, Oregon.She rents an apartment more than double the size for just $500 more than her apartment in Portland.The people in Georgia are friendlier, and she feels safer and more welcomed.T. D. Larson couldn't live in Portland, Oregon anymore.She was over the city's skyrocketing cost of living, high taxes, and declining population. She considered moving to Texas or Washington — where she previously lived briefly — but decided to pack her bags and move 2,500 miles southeast to Canton, Georgia, a city of around 34,500 people about 40 miles north of Atlanta.After around six months of research and planning, Larson — who asked to use the first initial of her first and middle names for privacy reasons — realized Canton would be the "upgrade" she wanted in her life. Larson, who works in PR and is in her mid-50s, got an apartment for double the size in Canton for only a few hundred dollars more a month. The people are nicer, the cost of living is way down, and she feels safer as a Jewish resident, she said."It took me a while to save up the money since it cost a lot to move here, and I'm digging out of some credit card debt, but it's worth it," Larson said. "I sleep better at night. I'm not hearing racing cars or anything, even though I'm maybe a mile from the main road."Census Bureau data from May estimates Portland experienced a population loss of 2.8% between 2020 and 2022, making it the sixth fastest-shrinking city in the US. This city's population fell from 653,294 in 2020, to 635,067 in 2022.Census Bureau estimates reveal that nearly 158,000 people moved away from Oregon between 2021 and 2022. Of those, just around 1,600 moved to Georgia.Leaving Portland behindLarson was born and raised in Portland, though she often moved around for work. She spent a few years in Dallas, Houston, and Seattle, as well as some time in cities throughout Europe and Asia, though she moved back to Portland full-time 11 years ago.In 2014, she started working remotely for a small boutique firm, during which time she became more involved in local politics. She said she helped elect city officials to try and solve problems of homelessness, drug abuse, and mental health, though she said a lot of proposals were "disastrous." These issues became worse in the years leading up to and including the pandemic, she said.The city "really took a dive" during the pandemic, she said, which "decimated businesses downtown," making the city lose much of its charm. Portland became "unlivable," she said, as rising rents and costs of daily purchases pushed people out of their homes and hurt middle-class residents. She also said she struggled to focus much of the time in Portland, as it was often very loud and chaotic in her area.She knew she wanted to move to a more rural area or a smaller city where she'd feel more comfortable. Starting in 2020, she began saving as much as she could and began looking along the East Coast, near where her company has office buildings.She decided on the Atlanta area, where she knew some people from work, but she didn't want to live anywhere close to downtown. After some searching, she settled on Canton, which is almost an hour north via car."Maybe it's just because I'm getting older, but being a single gal, I just wanted to live in a safe place," she said. "I wanted to be somewhere quiet, and that's exactly what I have here."Canton, Georgia: Pros and consLarson moved in June into a newer development in Canton that was double the size of her 800-square-foot, $1,400 a month two-bedroom apartment in Portland.In Portland, she was paying nearly $200 a month for air conditioning, whereas her 1,800-square-foot, three-bedroom apartment in Canton is $1,900 and her electricity bill never goes above $140. Her Portland apartment had no dishwasher and no washer and dryer, while she has all those amenities in Georgia."I'm out in an area that has three sides of my complexes surrounded by forest, and the other side is the main road," Larson said. "I'm a little more than a mile away from the main drag, which has an AMC theater, has all the major chain restaurants and smaller ones, has groceries and craft stores, things like that."She chose not to move to a suburb that's closer to Atlanta, like Marietta or Kennesaw, which she said were growing fast and becoming more expensive. She knew Canton was becoming more built up but not nearly at the rate of other suburbs.She's noticed that groceries are a bit cheaper than in Portland, and gas is also down — gas is currently $4.28 a gallon in Portland, compared to $3.07 in her county. The quality of groceries she said is slightly better in Georgia and also around 20% cheaper.Larson also said that as a Jew, Canton is a safer place to exercise her religion. She said her current city is more accepting and respectful, and the people overall seem much happier and positive.Still, she said there's little public transportation in her area, coupled with a lack of sidewalks. Temperatures also are quite high in the summer months, she said.Ultimately, though, she said she hopes to never return to living on the West Coast and wants Canton to become her permanent home."I left friends behind, but that's what social media and phone calls are for," Larson said. "It's not like I won't fly back to Portland to visit friends, but really my heart feels here."Have you recently moved to a new state? Reach out to this reporter at nsheidlower@businessinsider.com.Read the original article on Business Insider.....»»

Category: personnelSource: nytDec 14th, 2023

The 19 Fastest Shrinking Big Cities in America

There are many large cities that are suffering from urban decline. Several factors can bring about this fast-shrinking population. Significant contributions and changes to environmental, social, and economic issues can lead to high unemployment rates, a decline in housing, and higher poverty numbers. Although there are currently signs of recovery post-pandemic, many cities don’t have […] The post The 19 Fastest Shrinking Big Cities in America appeared first on 24/7 Wall St.. There are many large cities that are suffering from urban decline. Several factors can bring about this fast-shrinking population. Significant contributions and changes to environmental, social, and economic issues can lead to high unemployment rates, a decline in housing, and higher poverty numbers. Although there are currently signs of recovery post-pandemic, many cities don’t have the same numbers they once had. Several American cities over the past half-decade or so have undergone extreme population growth, while a number of prominent American urban areas recorded a major exodus of residents. 2022 saw the U.S. population experience a historically slow growth, increasing just 0.4% compared to the previous year. Although many of these declines occurred in Rust Belt metropolitan areas, there are quite a few exceptions.  In order to identify the most rapidly shrinking large United States cities, 24/7 Wall St. reviewed population data from the U.S. Census Bureau’s 2021 American Community Survey one-year estimates. All 19 metropolitan statistical areas with at least a 5% population drop from 2016 to 2021 were listed. We added seasonally-adjusted December employment figures – used to calculate employment growth from 2016 to 2021 – from the Bureau of Labor Statistics.  A substantial share of the nation’s population resides within three states: California, Texas, and Florida, with the latter two states contributing significantly to population growth. This illustrates that the enduring shifts in U.S. geographical patterns remain unchanged. However, our findings reveal that even within the most populous states, specific metro areas experienced a decline in residents. (Also see, the 15 countries Americans are moving to the most.) The metropolitan areas on this list range from the least-populous Danville, Illinois, with 73,000 residents, to the more populated Corpus Christi, Texas, with 423,000 residents. While not on this list, some smaller population centers are also shrinking. These are America’s disappearing small towns. Here are the fastest shrinking big cities in America. 19. Cumberland, MD-WV 2016-2021 pop. growth: -5.0% (-4,955) 2021 population: 94,586 — #364 highest out of 381 2016 population: 99,541 — #354 highest out of 381 2016-2021 employment growth: -1.6% — #100 largest decrease out of 150 Dec 2021 unemployment rate: 5.0% — #298 lowest out of 381 Dec 2016 unemployment rate: 5.9% — #316 lowest out of 381 18. Fairbanks, AK 2016-2021 pop. growth: -5.0% (-5,012) 2021 population: 95,593 — #363 highest out of 381 2016 population: 100,605 — #351 highest out of 381 2016-2021 employment growth: -2.2% — #86 largest decrease out of 150 Dec 2021 unemployment rate: 4.7% — #275 lowest out of 381 Dec 2016 unemployment rate: 6.0% — #322 lowest out of 381 17. St. Joseph, MO-KS 2016-2021 pop. growth: -5.7% (-7,254) 2021 population: 120,274 — #326 highest out of 381 2016 population: 127,528 — #306 highest out of 381 2016-2021 employment growth: -3.7% — #55 largest decrease out of 150 Dec 2021 unemployment rate: 2.7% — #65 lowest out of 381 Dec 2016 unemployment rate: 3.9% — #84 lowest out of 381 16. Weirton-Steubenville, WV-OH 2016-2021 pop. growth: -5.8% (-7,063) 2021 population: 113,798 — #336 highest out of 381 2016 population: 120,861 — #321 highest out of 381 2016-2021 employment growth: +0.1% — #230 largest increase out of 231 Dec 2021 unemployment rate: 5.3% — #313 lowest out of 381 Dec 2016 unemployment rate: 7.2% — #369 lowest out of 381 15. Goldsboro, NC 2016-2021 pop. growth: -5.9% (-7,315) 2021 population: 116,835 — #331 highest out of 381 2016 population: 124,150 — #313 highest out of 381 2016-2021 employment growth: -2.4% — #79 largest decrease out of 150 Dec 2021 unemployment rate: 4.0% — #210 lowest out of 381 Dec 2016 unemployment rate: 5.7% — #300 lowest out of 381 14. Beckley, WV 2016-2021 pop. growth: -6.0% (-7,226) 2021 population: 113,698 — #337 highest out of 381 2016 population: 120,924 — #320 highest out of 381 2016-2021 employment growth: +6.5% — #84 largest increase out of 231 Dec 2021 unemployment rate: 3.9% — #197 lowest out of 381 Dec 2016 unemployment rate: 6.3% — #339 lowest out of 381 13. Danville, IL 2016-2021 pop. growth: -6.4% (-5,016) 2021 population: 73,095 — #377 highest out of 381 2016 population: 78,111 — #377 highest out of 381 2016-2021 employment growth: -5.0% — #37 largest decrease out of 150 Dec 2021 unemployment rate: 5.1% — #305 lowest out of 381 Dec 2016 unemployment rate: 7.0% — #367 lowest out of 381 12. Corpus Christi, TX 2016-2021 pop. growth: -6.6% (-30,012) 2021 population: 422,778 — #130 highest out of 381 2016 population: 452,790 — #114 highest out of 381 2016-2021 employment growth: -2.4% — #77 largest decrease out of 150 Dec 2021 unemployment rate: 6.3% — #354 lowest out of 381 Dec 2016 unemployment rate: 6.3% — #339 lowest out of 381 11. Champaign-Urbana, IL 2016-2021 pop. growth: -7.2% (-17,176) 2021 population: 222,696 — #204 highest out of 381 2016 population: 239,872 — #189 highest out of 381 2016-2021 employment growth: +2.1% — #173 largest increase out of 231 Dec 2021 unemployment rate: 3.7% — #162 lowest out of 381 Dec 2016 unemployment rate: 4.9% — #210 lowest out of 381 10. Pine Bluff, AR 2016-2021 pop. growth: -7.8% (-7,324) 2021 population: 86,747 — #367 highest out of 381 2016 population: 94,071 — #363 highest out of 381 2016-2021 employment growth: -2.0% — #87 largest decrease out of 150 Dec 2021 unemployment rate: 4.8% — #282 lowest out of 381 Dec 2016 unemployment rate: 5.1% — #233 lowest out of 381 9. Chico, CA 2016-2021 pop. growth: -8.2% (-18,555) 2021 population: 208,309 — #212 highest out of 381 2016 population: 226,864 — #196 highest out of 381 2016-2021 employment growth: -8.5% — #8 largest decrease out of 150 Dec 2021 unemployment rate: 5.5% — #331 lowest out of 381 Dec 2016 unemployment rate: 6.4% — #346 lowest out of 381 8. Blacksburg-Christiansburg, VA 2016-2021 pop. growth: -8.2% (-15,007) 2021 population: 168,404 — #254 highest out of 381 2016 population: 183,411 — #226 highest out of 381 2016-2021 employment growth: +2.3% — #163 largest increase out of 231 Dec 2021 unemployment rate: 2.9% — #79 lowest out of 381 Dec 2016 unemployment rate: 4.6% — #172 lowest out of 381 7. Bloomington, IL 2016-2021 pop. growth: -8.8% (-16,437) 2021 population: 170,889 — #251 highest out of 381 2016 population: 187,326 — #224 highest out of 381 2016-2021 employment growth: -8.9% — #5 largest decrease out of 150 Dec 2021 unemployment rate: 3.8% — #181 lowest out of 381 Dec 2016 unemployment rate: 4.8% — #199 lowest out of 381 6. Panama City, FL 2016-2021 pop. growth: -10.8% (-21,725) 2021 population: 179,168 — #240 highest out of 381 2016 population: 200,893 — #217 highest out of 381 2016-2021 employment growth: +0.7% — #208 largest increase out of 231 Dec 2021 unemployment rate: 3.5% — #141 lowest out of 381 Dec 2016 unemployment rate: 4.6% — #172 lowest out of 381 5. Grand Island, NE 2016-2021 pop. growth: -11.0% (-9,409) 2021 population: 76,175 — #376 highest out of 381 2016 population: 85,584 — #368 highest out of 381 2016-2021 employment growth: +1.6% — #183 largest increase out of 231 Dec 2021 unemployment rate: 1.8% — #5 lowest out of 381 Dec 2016 unemployment rate: 3.2% — #28 lowest out of 381 4. Sioux City, IA-NE-SD 2016-2021 pop. growth: -11.0% (-18,547) 2021 population: 149,400 — #282 highest out of 381 2016 population: 167,947 — #247 highest out of 381 2016-2021 employment growth: -0.2% — #146 largest decrease out of 150 Dec 2021 unemployment rate: 2.9% — #79 lowest out of 381 Dec 2016 unemployment rate: 3.5% — #54 lowest out of 381 3. Shreveport-Bossier City, LA 2016-2021 pop. growth: -11.9% (-52,612) 2021 population: 389,155 — #138 highest out of 381 2016 population: 441,767 — #120 highest out of 381 2016-2021 employment growth: -1.6% — #98 largest decrease out of 150 Dec 2021 unemployment rate: 4.6% — #270 lowest out of 381 Dec 2016 unemployment rate: 6.2% — #331 lowest out of 381 2. Fort Smith, AR-OK 2016-2021 pop. growth: -11.9% (-33,566) 2021 population: 247,661 — #191 highest out of 381 2016 population: 281,227 — #169 highest out of 381 2016-2021 employment growth: +0.4% — #216 largest increase out of 231 Dec 2021 unemployment rate: 2.7% — #65 lowest out of 381 Dec 2016 unemployment rate: 4.2% — #115 lowest out of 381 1. Kalamazoo-Portage, MI 2016-2021 pop. growth: -22.5% (-75,769) 2021 population: 261,108 — #187 highest out of 381 2016 population: 336,877 — #151 highest out of 381 2016-2021 employment growth: -3.3% — #61 largest decrease out of 150 Dec 2021 unemployment rate: 5.0% — #298 lowest out of 381 Dec 2016 unemployment rate: 4.5% — #156 lowest out of 381 Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. 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Category: blogSource: 247wallstDec 2nd, 2023

These Are the 40 Best Counties To Live in America

Measures such as gross domestic product, GDP growth, poverty, and income per capita are commonly used to gauge levels of development and prosperity within a given country. On their own, however, these and other measures are too narrow in scope to offer more meaningful and comprehensive insight. To address these shortcomings, the United Nations Development […] The post These Are the 40 Best Counties To Live in America appeared first on 24/7 Wall St.. Measures such as gross domestic product, GDP growth, poverty, and income per capita are commonly used to gauge levels of development and prosperity within a given country. On their own, however, these and other measures are too narrow in scope to offer more meaningful and comprehensive insight. To address these shortcomings, the United Nations Development Programme created the Human Development Index. The HDI estimates a country’s development using three dimensions – health, assessed by life expectancy at birth; education, assessed by mean years of schooling; and standard of living, assessed by gross national income per capita. And in the United States, these measures are moving in the wrong direction. (Here is a look at the fastest shrinking local economy in every state.) According to the Centers for Disease Control and Prevention, average life expectancy at birth in the United States fell by 2.7 years from 2019 to 2021 and now stands at 76.1 years – the lowest it has been since 1996. Additionally, the Brookings Institute recently reported that overall undergraduate enrollment fell by 15% from 2010 to 2021 and has continued to decline in the years since. Meanwhile, the number of Americans living below the poverty line climbed by 7.9% in 2021, the largest single-year increase since the Great Recession of 2008 and 2009.  But while the U.S. as a whole is backsliding, there are parts of the country that stand out for exceptionally high levels of human development.  Using an index inspired by the HDI, 24/7 Wall St. identified the best U.S. counties to live in. Over 3,000 counties and county equivalents were ranked based on a combination of three measures – average life expectancy at birth, the share of adults with a bachelor’s degree, and the poverty rate. To avoid clustering, only one county per metropolitan statistical area was included. The 40 counties and county equivalents on this list are spread across the country, including five in the Northeast, nine in the Midwest, 11 in the South, and 15 in the West. In each, the share of adults with a bachelor’s degree or higher exceeds the 33.7% national bachelor’s degree attainment rate and life expectancy at birth is at least 2.5 years longer than the national average. Additionally, only two of these places have a higher poverty rate than the 12.6% national rate. (Here is a look at the U.S. cities with the lowest poverty rates.) While these three key measures are independent, they are also closely correlated. Americans with a bachelor’s degree are less likely to face serious financial hardship and more likely to have healthier lifestyles and improved health outcomes. Additionally, poverty is associated with negative health outcomes and increased risk of premature mortality.  Here are the best counties to live in. 40. Oconee County, Georgia > Poverty rate: 4.7% (#3,101 of 3,142 counties) > Adults with a bachelor’s degree: 51.6% (#58 of 3,142 counties) > Life expectancy at birth: 81.6 years (#160 of 3,142 counties) > Median household income: $106,165 (#47 of 3,142 counties) > County seat: Watkinsville 39. Wake County, North Carolina > Poverty rate: 8.5% (#2,688 of 3,142 counties) > Adults with a bachelor’s degree: 54.7% (#41 of 3,142 counties) > Life expectancy at birth: 81.8 years (#133 of 3,142 counties) > Median household income: $88,471 (#152 of 3,142 counties) > County seat: Raleigh ALSO READ: The Best States to Live In: All 50 States Ranked 38. Leelanau County, Michigan > Poverty rate: 6.4% (#2,974 of 3,142 counties) > Adults with a bachelor’s degree: 47.3% (#98 of 3,142 counties) > Life expectancy at birth: 82.6 years (#58 of 3,142 counties) > Median household income: $72,709 (#426 of 3,142 counties) > County seat: Suttons Bay 37. Fort Bend County, Texas > Poverty rate: 7.2% (#2,893 of 3,142 counties) > Adults with a bachelor’s degree: 48.1% (#91 of 3,142 counties) > Life expectancy at birth: 82.6 years (#57 of 3,142 counties) > Median household income: $102,590 (#55 of 3,142 counties) > County seat: Richmond 36. Nantucket County, Massachusetts > Poverty rate: 6.0% (#3,014 of 3,142 counties) > Adults with a bachelor’s degree: 50.7% (#66 of 3,142 counties) > Life expectancy at birth: 82.1 years (#95 of 3,142 counties) > Median household income: $116,571 (#21 of 3,142 counties) > County seat: Nantucket 35. Gunnison County, Colorado > Poverty rate: 13.0% (#1,691 of 3,142 counties) > Adults with a bachelor’s degree: 56.7% (#29 of 3,142 counties) > Life expectancy at birth: 82.5 years (#66 of 3,142 counties) > Median household income: $63,341 (#906 of 3,142 counties) > County seat: Gunnison 34. Chester County, Pennsylvania > Poverty rate: 6.1% (#3,010 of 3,142 counties) > Adults with a bachelor’s degree: 55.2% (#39 of 3,142 counties) > Life expectancy at birth: 81.5 years (#162 of 3,142 counties) > Median household income: $109,969 (#38 of 3,142 counties) > County seat: West Chester ALSO READ: The States With the Shortest Life Expectancy 33. King County, Washington > Poverty rate: 8.4% (#2,699 of 3,142 counties) > Adults with a bachelor’s degree: 54.0% (#46 of 3,142 counties) > Life expectancy at birth: 82.1 years (#89 of 3,142 counties) > Median household income: $106,326 (#46 of 3,142 counties) > County seat: Seattle 32. Dallas County, Iowa > Poverty rate: 5.7% (#3,034 of 3,142 counties) > Adults with a bachelor’s degree: 50.4% (#73 of 3,142 counties) > Life expectancy at birth: 82.3 years (#77 of 3,142 counties) > Median household income: $93,492 (#111 of 3,142 counties) > County seat: Adel 31. Ozaukee County, Wisconsin > Poverty rate: 4.0% (#3,123 of 3,142 counties) > Adults with a bachelor’s degree: 50.4% (#71 of 3,142 counties) > Life expectancy at birth: 82.0 years (#106 of 3,142 counties) > Median household income: $86,915 (#168 of 3,142 counties) > County seat: Port Washington 30. Lincoln County, South Dakota > Poverty rate: 4.7% (#3,099 of 3,142 counties) > Adults with a bachelor’s degree: 41.3% (#193 of 3,142 counties) > Life expectancy at birth: 83.6 years (#30 of 3,142 counties) > Median household income: $87,560 (#161 of 3,142 counties) > County seat: Canton 29. Fairfield County, Connecticut > Poverty rate: 9.2% (#2,569 of 3,142 counties) > Adults with a bachelor’s degree: 49.2% (#82 of 3,142 counties) > Life expectancy at birth: 83.2 years (#35 of 3,142 counties) > Median household income: $101,194 (#64 of 3,142 counties) > County seat: Bridgeport 24/7 Wall St. The Poorest Town in Every State 28. Collier County, Florida > Poverty rate: 10.6% (#2,245 of 3,142 counties) > Adults with a bachelor’s degree: 37.9% (#272 of 3,142 counties) > Life expectancy at birth: 85.3 years (#13 of 3,142 counties) > Median household income: $75,543 (#348 of 3,142 counties) > County seat: East Naples 27. Orange County, North Carolina > Poverty rate: 12.6% (#1,776 of 3,142 counties) > Adults with a bachelor’s degree: 61.3% (#14 of 3,142 counties) > Life expectancy at birth: 82.1 years (#94 of 3,142 counties) > Median household income: $79,205 (#261 of 3,142 counties) > County seat: Hillsborough 26. Johnson County, Kansas > Poverty rate: 5.1% (#3,067 of 3,142 counties) > Adults with a bachelor’s degree: 56.3% (#30 of 3,142 counties) > Life expectancy at birth: 81.7 years (#147 of 3,142 counties) > Median household income: $96,059 (#88 of 3,142 counties) > County seat: Olathe 25. DuPage County, Illinois > Poverty rate: 6.1% (#3,004 of 3,142 counties) > Adults with a bachelor’s degree: 50.7% (#68 of 3,142 counties) > Life expectancy at birth: 82.7 years (#54 of 3,142 counties) > Median household income: $100,292 (#68 of 3,142 counties) > County seat: Wheaton 24. Collin County, Texas > Poverty rate: 6.5% (#2,968 of 3,142 counties) > Adults with a bachelor’s degree: 53.4% (#48 of 3,142 counties) > Life expectancy at birth: 82.4 years (#74 of 3,142 counties) > Median household income: $104,327 (#53 of 3,142 counties) > County seat: McKinney ALSO READ: The City With the Richest Middle Class in Every State 23. Middlesex County, Massachusetts > Poverty rate: 7.4% (#2,847 of 3,142 counties) > Adults with a bachelor’s degree: 57.8% (#26 of 3,142 counties) > Life expectancy at birth: 81.9 years (#113 of 3,142 counties) > Median household income: $111,790 (#31 of 3,142 counties) > County seat: Lowell 22. Routt County, Colorado > Poverty rate: 8.6% (#2,664 of 3,142 counties) > Adults with a bachelor’s degree: 50.8% (#63 of 3,142 counties) > Life expectancy at birth: 83.3 years (#34 of 3,142 counties) > Median household income: $83,725 (#205 of 3,142 counties) > County seat: Steamboat Springs 21. Albemarle County, Virginia > Poverty rate: 6.9% (#2,927 of 3,142 counties) > Adults with a bachelor’s degree: 58.9% (#22 of 3,142 counties) > Life expectancy at birth: 81.9 years (#123 of 3,142 counties) > Median household income: $90,568 (#133 of 3,142 counties) > County seat: Charlottesville 20. Carver County, Minnesota > Poverty rate: 3.8% (#3,128 of 3,142 counties) > Adults with a bachelor’s degree: 49.7% (#77 of 3,142 counties) > Life expectancy at birth: 82.8 years (#49 of 3,142 counties) > Median household income: $107,890 (#43 of 3,142 counties) > County seat: Chaska 19. Forsyth County, Georgia > Poverty rate: 5.3% (#3,060 of 3,142 counties) > Adults with a bachelor’s degree: 55.9% (#34 of 3,142 counties) > Life expectancy at birth: 82.2 years (#79 of 3,142 counties) > Median household income: $120,999 (#16 of 3,142 counties) > County seat: Cumming ALSO READ: America’s Healthiest Cities 18. Delaware County, Ohio > Poverty rate: 4.6% (#3,104 of 3,142 counties) > Adults with a bachelor’s degree: 57.1% (#28 of 3,142 counties) > Life expectancy at birth: 82.1 years (#96 of 3,142 counties) > Median household income: $116,284 (#24 of 3,142 counties) > County seat: Delaware 17. Ouray County, Colorado > Poverty rate: 4.4% (#3,113 of 3,142 counties) > Adults with a bachelor’s degree: 46.2% (#112 of 3,142 counties) > Life expectancy at birth: 84.0 years (#22 of 3,142 counties) > Median household income: $67,228 (#658 of 3,142 counties) > County seat: Ouray 16. San Juan County, Washington > Poverty rate: 10.9% (#2,176 of 3,142 counties) > Adults with a bachelor’s degree: 51.3% (#59 of 3,142 counties) > Life expectancy at birth: 84.4 years (#19 of 3,142 counties) > Median household income: $68,577 (#590 of 3,142 counties) > County seat: Friday Harbor 15. Hamilton County, Indiana > Poverty rate: 4.0% (#3,124 of 3,142 counties) > Adults with a bachelor’s degree: 60.5% (#15 of 3,142 counties) > Life expectancy at birth: 81.9 years (#121 of 3,142 counties) > Median household income: $104,858 (#51 of 3,142 counties) > County seat: Noblesville 14. Williamson County, Tennessee > Poverty rate: 3.9% (#3,126 of 3,142 counties) > Adults with a bachelor’s degree: 61.9% (#11 of 3,142 counties) > Life expectancy at birth: 81.7 years (#146 of 3,142 counties) > Median household income: $116,492 (#22 of 3,142 counties) > County seat: Franklin 24/7 Wall St. The Best States to Live In: All 50 States Ranked 13. Summit County, Utah > Poverty rate: 5.3% (#3,061 of 3,142 counties) > Adults with a bachelor’s degree: 55.2% (#40 of 3,142 counties) > Life expectancy at birth: 83.6 years (#31 of 3,142 counties) > Median household income: $116,351 (#23 of 3,142 counties) > County seat: Coalville 12. Howard County, Maryland > Poverty rate: 5.5% (#3,046 of 3,142 counties) > Adults with a bachelor’s degree: 63.6% (#5 of 3,142 counties) > Life expectancy at birth: 83.0 years (#41 of 3,142 counties) > Median household income: $129,549 (#7 of 3,142 counties) > County seat: Ellicott City 11. Santa Clara County, California > Poverty rate: 6.7% (#2,950 of 3,142 counties) > Adults with a bachelor’s degree: 54.4% (#42 of 3,142 counties) > Life expectancy at birth: 84.6 years (#17 of 3,142 counties) > Median household income: $140,258 (#3 of 3,142 counties) > County seat: San Jose 10. Douglas County, Colorado > Poverty rate: 3.0% (#3,134 of 3,142 counties) > Adults with a bachelor’s degree: 59.2% (#21 of 3,142 counties) > Life expectancy at birth: 83.4 years (#33 of 3,142 counties) > Median household income: $127,443 (#9 of 3,142 counties) > County seat: Castle Rock 9. New York County, New York > Poverty rate: 15.6% (#1,124 of 3,142 counties) > Adults with a bachelor’s degree: 62.6% (#9 of 3,142 counties) > Life expectancy at birth: 85.1 years (#15 of 3,142 counties) > Median household income: $93,956 (#104 of 3,142 counties) > County seat: Manhattan 24/7 Wall St. The States With the Shortest Life Expectancy 8. Marin County, California > Poverty rate: 6.9% (#2,919 of 3,142 counties) > Adults with a bachelor’s degree: 60.1% (#17 of 3,142 counties) > Life expectancy at birth: 85.3 years (#10 of 3,142 counties) > Median household income: $131,008 (#6 of 3,142 counties) > County seat: San Rafael 7. Teton County, Wyoming > Poverty rate: 7.1% (#2,896 of 3,142 counties) > Adults with a bachelor’s degree: 57.9% (#24 of 3,142 counties) > Life expectancy at birth: 85.9 years (#5 of 3,142 counties) > Median household income: $94,498 (#99 of 3,142 counties) > County seat: Jackson 6. Los Alamos County, New Mexico > Poverty rate: 4.2% (#3,120 of 3,142 counties) > Adults with a bachelor’s degree: 68.5% (#3 of 3,142 counties) > Life expectancy at birth: 83.9 years (#25 of 3,142 counties) > Median household income: $123,677 (#13 of 3,142 counties) > County seat: Los Alamos 5. San Miguel County, Colorado > Poverty rate: 9.4% (#2,530 of 3,142 counties) > Adults with a bachelor’s degree: 59.9% (#18 of 3,142 counties) > Life expectancy at birth: 86.2 years (#4 of 3,142 counties) > Median household income: $70,965 (#490 of 3,142 counties) > County seat: Telluride 4. Eagle County, Colorado > Poverty rate: 9.2% (#2,567 of 3,142 counties) > Adults with a bachelor’s degree: 50.9% (#62 of 3,142 counties) > Life expectancy at birth: 88.5 years (#3 of 3,142 counties) > Median household income: $91,338 (#125 of 3,142 counties) > County seat: Eagle 24/7 Wall St. The Poorest Town in Every State 3. Arlington County, Virginia > Poverty rate: 6.5% (#2,971 of 3,142 counties) > Adults with a bachelor’s degree: 76.3% (#2 of 3,142 counties) > Life expectancy at birth: 85.5 years (#9 of 3,142 counties) > Median household income: $128,145 (#8 of 3,142 counties) > County seat: Arlington 2. Summit County, Colorado > Poverty rate: 6.8% (#2,937 of 3,142 counties) > Adults with a bachelor’s degree: 52.8% (#51 of 3,142 counties) > Life expectancy at birth: 91.7 years (#1 of 3,142 counties) > Median household income: $93,505 (#110 of 3,142 counties) > County seat: Breckenridge 1. Pitkin County, Colorado > Poverty rate: 5.2% (#3,063 of 3,142 counties) > Adults with a bachelor’s degree: 62.3% (#10 of 3,142 counties) > Life expectancy at birth: 91.3 years (#2 of 3,142 counties) > Median household income: $92,708 (#116 of 3,142 counties) > County seat: Aspen Methodology To determine the best U.S. counties to live in, 24/7 Wall St. constructed an index of three measures: poverty, bachelor’s degree attainment among adults, and average life expectancy at birth. The selection of these three measures was inspired by the United Nations’ Human Development Index. Over 3,000 counties and county equivalents were ranked based on the index. To avoid clustering, only one county per metropolitan statistical area was included. Data on the share of individuals living below the poverty line as well as the share of adults 25 and older with at least a bachelor’s degree came from the 2021 U.S. Census Bureau’s American Community Survey and are five-year estimates. Supplemental data on median household income also came from the ACS. Data on average life expectancy at birth came from the Institute for Health Metrics and Evaluation of the University of Washington and are for 2019. Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit. The post These Are the 40 Best Counties To Live in America appeared first on 24/7 Wall St.......»»

Category: blogSource: 247wallstNov 13th, 2023

States that Lost the Most People Last Year: All 50 States Ranked

Population growth in the U.S. is starting to recover from historic lows largely related to the COVID-19 pandemic; however, the current growth rate remains lower than any seen during the 20th century. Between July 1, 2020 and July 1, 2021, the population rose by 0.1% — the lowest rate in the history of the United […] The post States that Lost the Most People Last Year: All 50 States Ranked appeared first on 24/7 Wall St.. Population growth in the U.S. is starting to recover from historic lows largely related to the COVID-19 pandemic; however, the current growth rate remains lower than any seen during the 20th century. Between July 1, 2020 and July 1, 2021, the population rose by 0.1% — the lowest rate in the history of the United States. Deaths related to COVID-19 combined with closed borders during the pandemic that led to a halt in immigration were large factors. Between 2021 and 2022, the growth rate rose to 0.4%, with an uptick in migration from abroad accounting for much of the increase. Over 1 million migrants moved to the U.S. during this period. By state, the three most populous states had the highest levels of international migration, with Florida and California each receiving over 125,000 migrants, and Texas receiving over 118,000. (These are the states where the most people are immigrants.) Despite the higher numbers of international immigrants moving to California, the state recorded a net migration loss, as over 343,000 residents left the state. Other states with net migration losses include Illinois, Louisiana, New Jersey, and New York. Considering natural causes, in 23 states, including Pennsylvania, Michigan, Ohio, and West Virginia, there was a natural population loss, where the number of deaths in the state exceeded the number of births. (These are the states where deaths are outpacing births.) To determine the states that lost the most people, 24/7 Wall St. reviewed data on population changes from the U.S. Census Bureau’s Population and Housing Unit Estimates program. States were ranked based on total population change from July 1, 2021 to July 1, 2022. Supplemental data on population changes due to net migration and due to natural change (births less deaths) also came from the Census Bureau PHUE. Between July 1, 2021 and July 1, 2022, the population declined in 18 U.S. states, with 14 recording some population loss due to migration and eight recording some population loss due to natural causes. In four states — Rhode Island, Mississippi, Pennsylvania, and Oregon — the population loss was due to both factors.  For the top three states that lost the most people, however, domestic migration out of state was the contributing factor to population loss rather than natural change. New York, the state where the population declined the most, lost 299,557 people to domestic migration, while Illinois lost 141,656, and Louisiana lost 46,672. (These are America’s 19 fastest-shrinking big cities.) Here are the states that lost the most people. 50. Florida > Population change, July 1, 2021 to July 1, 2022: +1.9% (+416,754 people) > Population change due to net migration: +2.0% (the highest) > Population change due to natural change: -0.2% (6th lowest) > Total population, July 1, 2022: 22,244,823 (3rd highest) 49. Idaho > Population change, July 1, 2021 to July 1, 2022: +1.8% (+34,719 people) > Population change due to net migration: +1.6% (4th highest) > Population change due to natural change: +0.2% (11th highest) > Total population, July 1, 2022: 1,939,033 (13th lowest) 48. South Carolina > Population change, July 1, 2021 to July 1, 2022: +1.7% (+89,368 people) > Population change due to net migration: +1.8% (2nd highest) > Population change due to natural change: -0.1% (13th lowest) > Total population, July 1, 2022: 5,282,634 (23rd highest) 47. Texas > Population change, July 1, 2021 to July 1, 2022: +1.6% (+470,708 people) > Population change due to net migration: +1.2% (10th highest) > Population change due to natural change: +0.4% (3rd highest) > Total population, July 1, 2022: 30,029,572 (2nd highest) 46. South Dakota > Population change, July 1, 2021 to July 1, 2022: +1.5% (+13,660 people) > Population change due to net migration: +1.3% (8th highest) > Population change due to natural change: +0.2% (7th highest) > Total population, July 1, 2022: 909,824 (5th lowest) 45. Montana > Population change, July 1, 2021 to July 1, 2022: +1.5% (+16,640 people) > Population change due to net migration: +1.6% (3rd highest) > Population change due to natural change: -0.2% (11th lowest) > Total population, July 1, 2022: 1,122,867 (8th lowest) 44. Delaware > Population change, July 1, 2021 to July 1, 2022: +1.4% (+13,589 people) > Population change due to net migration: +1.4% (5th highest) > Population change due to natural change: -0.1% (21st lowest) > Total population, July 1, 2022: 1,018,396 (6th lowest) 43. Arizona > Population change, July 1, 2021 to July 1, 2022: +1.3% (+94,320 people) > Population change due to net migration: +1.3% (7th highest) > Population change due to natural change: +0.0% (24th lowest) > Total population, July 1, 2022: 7,359,197 (14th highest) 42. North Carolina > Population change, July 1, 2021 to July 1, 2022: +1.3% (+133,088 people) > Population change due to net migration: +1.2% (9th highest) > Population change due to natural change: +0.1% (20th highest) > Total population, July 1, 2022: 10,698,973 (9th highest) 41. Utah > Population change, July 1, 2021 to July 1, 2022: +1.2% (+41,687 people) > Population change due to net migration: +0.5% (18th highest) > Population change due to natural change: +0.7% (the highest) > Total population, July 1, 2022: 3,380,800 (21st lowest) 40. Tennessee > Population change, July 1, 2021 to July 1, 2022: +1.2% (+82,988 people) > Population change due to net migration: +1.3% (6th highest) > Population change due to natural change: -0.1% (14th lowest) > Total population, July 1, 2022: 7,051,339 (15th highest) 39. Georgia > Population change, July 1, 2021 to July 1, 2022: +1.2% (+124,847 people) > Population change due to net migration: +1.0% (12th highest) > Population change due to natural change: +0.1% (16th highest) > Total population, July 1, 2022: 10,912,876 (8th highest) 38. Nevada > Population change, July 1, 2021 to July 1, 2022: +1.0% (+31,370 people) > Population change due to net migration: +1.0% (13th highest) > Population change due to natural change: +0.0% (25th lowest) > Total population, July 1, 2022: 3,177,772 (19th lowest) 37. Oklahoma > Population change, July 1, 2021 to July 1, 2022: +0.7% (+28,575 people) > Population change due to net migration: +0.8% (14th highest) > Population change due to natural change: -0.1% (20th lowest) > Total population, July 1, 2022: 4,019,800 (23rd lowest) 36. Maine > Population change, July 1, 2021 to July 1, 2022: +0.6% (+8,102 people) > Population change due to net migration: +1.0% (11th highest) > Population change due to natural change: -0.4% (2nd lowest) > Total population, July 1, 2022: 1,385,340 (9th lowest) 35. Washington > Population change, July 1, 2021 to July 1, 2022: +0.6% (+45,041 people) > Population change due to net migration: +0.4% (19th highest) > Population change due to natural change: +0.2% (14th highest) > Total population, July 1, 2022: 7,785,786 (13th highest) 34. Arkansas > Population change, July 1, 2021 to July 1, 2022: +0.6% (+17,515 people) > Population change due to net migration: +0.7% (16th highest) > Population change due to natural change: -0.1% (15th lowest) > Total population, July 1, 2022: 3,045,637 (18th lowest) 33. New Hampshire > Population change, July 1, 2021 to July 1, 2022: +0.6% (+7,726 people) > Population change due to net migration: +0.7% (15th highest) > Population change due to natural change: -0.1% (12th lowest) > Total population, July 1, 2022: 1,395,231 (10th lowest) 32. Colorado > Population change, July 1, 2021 to July 1, 2022: +0.5% (+28,629 people) > Population change due to net migration: +0.3% (24th highest) > Population change due to natural change: +0.2% (8th highest) > Total population, July 1, 2022: 5,839,926 (21st highest) 31. Alabama > Population change, July 1, 2021 to July 1, 2022: +0.5% (+24,450 people) > Population change due to net migration: +0.7% (17th highest) > Population change due to natural change: -0.2% (8th lowest) > Total population, July 1, 2022: 5,074,296 (24th highest) 30. Wyoming > Population change, July 1, 2021 to July 1, 2022: +0.3% (+1,898 people) > Population change due to net migration: +0.4% (20th highest) > Population change due to natural change: -0.1% (19th lowest) > Total population, July 1, 2022: 581,381 (the lowest) 29. Virginia > Population change, July 1, 2021 to July 1, 2022: +0.3% (+26,254 people) > Population change due to net migration: +0.2% (24th lowest) > Population change due to natural change: +0.1% (17th highest) > Total population, July 1, 2022: 8,683,619 (12th highest) 28. Indiana > Population change, July 1, 2021 to July 1, 2022: +0.3% (+19,505 people) > Population change due to net migration: +0.3% (23rd highest) > Population change due to natural change: +0.0% (25th highest) > Total population, July 1, 2022: 6,833,037 (17th highest) 27. Nebraska > Population change, July 1, 2021 to July 1, 2022: +0.2% (+4,369 people) > Population change due to net migration: +0.0% (17th lowest) > Population change due to natural change: +0.3% (6th highest) > Total population, July 1, 2022: 1,967,923 (14th lowest) 26. Wisconsin > Population change, July 1, 2021 to July 1, 2022: +0.2% (+12,438 people) > Population change due to net migration: +0.3% (25th highest) > Population change due to natural change: +0.0% (23rd lowest) > Total population, July 1, 2022: 5,892,539 (20th highest) 25. North Dakota > Population change, July 1, 2021 to July 1, 2022: +0.2% (+1,327 people) > Population change due to net migration: -0.2% (12th lowest) > Population change due to natural change: +0.4% (4th highest) > Total population, July 1, 2022: 779,261 (4th lowest) 24. Missouri > Population change, July 1, 2021 to July 1, 2022: +0.1% (+8,134 people) > Population change due to net migration: +0.2% (25th lowest) > Population change due to natural change: -0.1% (18th lowest) > Total population, July 1, 2022: 6,177,957 (18th highest) 23. Kentucky > Population change, July 1, 2021 to July 1, 2022: +0.1% (+5,721 people) > Population change due to net migration: +0.3% (22nd highest) > Population change due to natural change: -0.2% (5th lowest) > Total population, July 1, 2022: 4,512,310 (25th lowest) 22. Minnesota > Population change, July 1, 2021 to July 1, 2022: +0.1% (+5,713 people) > Population change due to net migration: -0.1% (15th lowest) > Population change due to natural change: +0.2% (10th highest) > Total population, July 1, 2022: 5,717,184 (22nd highest) 21. Iowa > Population change, July 1, 2021 to July 1, 2022: +0.1% (+2,828 people) > Population change due to net migration: +0.1% (18th lowest) > Population change due to natural change: +0.0% (21st highest) > Total population, July 1, 2022: 3,200,517 (20th lowest) 20. Connecticut > Population change, July 1, 2021 to July 1, 2022: +0.1% (+2,850 people) > Population change due to net migration: +0.1% (20th lowest) > Population change due to natural change: +0.0% (23rd highest) > Total population, July 1, 2022: 3,626,205 (22nd lowest) 19. Vermont > Population change, July 1, 2021 to July 1, 2022: +0.0% (+92 people) > Population change due to net migration: +0.3% (21st highest) > Population change due to natural change: -0.3% (3rd lowest) > Total population, July 1, 2022: 647,064 (2nd lowest) 18. Kansas > Population change, July 1, 2021 to July 1, 2022: +0.0% (-772 people) > Population change due to net migration: -0.1% (16th lowest) > Population change due to natural change: +0.1% (19th highest) > Total population, July 1, 2022: 2,937,150 (16th lowest) 17. Michigan > Population change, July 1, 2021 to July 1, 2022: +0.0% (-3,391 people) > Population change due to net migration: +0.1% (21st lowest) > Population change due to natural change: -0.1% (16th lowest) > Total population, July 1, 2022: 10,034,113 (10th highest) 16. New Jersey > Population change, July 1, 2021 to July 1, 2022: -0.1% (-6,262 people) > Population change due to net migration: -0.3% (8th lowest) > Population change due to natural change: +0.2% (9th highest) > Total population, July 1, 2022: 9,261,699 (11th highest) 15. Ohio > Population change, July 1, 2021 to July 1, 2022: -0.1% (-8,284 people) > Population change due to net migration: +0.1% (23rd lowest) > Population change due to natural change: -0.2% (10th lowest) > Total population, July 1, 2022: 11,756,058 (7th highest) 14. Alaska > Population change, July 1, 2021 to July 1, 2022: -0.1% (-599 people) > Population change due to net migration: -0.5% (6th lowest) > Population change due to natural change: +0.4% (2nd highest) > Total population, July 1, 2022: 733,583 (3rd lowest) 13. Massachusetts > Population change, July 1, 2021 to July 1, 2022: -0.1% (-7,716 people) > Population change due to net migration: -0.2% (11th lowest) > Population change due to natural change: +0.1% (18th highest) > Total population, July 1, 2022: 6,981,974 (16th highest) 12. New Mexico > Population change, July 1, 2021 to July 1, 2022: -0.2% (-3,333 people) > Population change due to net migration: +0.1% (19th lowest) > Population change due to natural change: -0.2% (4th lowest) > Total population, July 1, 2022: 2,113,344 (15th lowest) 11. Maryland > Population change, July 1, 2021 to July 1, 2022: -0.2% (-9,950 people) > Population change due to net migration: -0.3% (7th lowest) > Population change due to natural change: +0.2% (12th highest) > Total population, July 1, 2022: 6,164,660 (19th highest) 10. California > Population change, July 1, 2021 to July 1, 2022: -0.3% (-113,649 people) > Population change due to net migration: -0.6% (5th lowest) > Population change due to natural change: +0.3% (5th highest) > Total population, July 1, 2022: 39,029,342 (the highest) 9. Rhode Island > Population change, July 1, 2021 to July 1, 2022: -0.3% (-3,251 people) > Population change due to net migration: -0.2% (10th lowest) > Population change due to natural change: -0.1% (22nd lowest) > Total population, July 1, 2022: 1,093,734 (7th lowest) 8. Pennsylvania > Population change, July 1, 2021 to July 1, 2022: -0.3% (-40,051 people) > Population change due to net migration: -0.1% (14th lowest) > Population change due to natural change: -0.2% (7th lowest) > Total population, July 1, 2022: 12,972,008 (5th highest) 7. Mississippi > Population change, July 1, 2021 to July 1, 2022: -0.3% (-9,529 people) > Population change due to net migration: -0.1% (13th lowest) > Population change due to natural change: -0.2% (9th lowest) > Total population, July 1, 2022: 2,940,057 (17th lowest) 6. Oregon > Population change, July 1, 2021 to July 1, 2022: -0.4% (-16,164 people) > Population change due to net migration: -0.2% (9th lowest) > Population change due to natural change: -0.1% (17th lowest) > Total population, July 1, 2022: 4,240,137 (24th lowest) 5. Hawaii > Population change, July 1, 2021 to July 1, 2022: -0.5% (-6,958 people) > Population change due to net migration: -0.7% (4th lowest) > Population change due to natural change: +0.2% (15th highest) > Total population, July 1, 2022: 1,440,196 (11th lowest) 4. West Virginia > Population change, July 1, 2021 to July 1, 2022: -0.6% (-10,370 people) > Population change due to net migration: +0.1% (22nd lowest) > Population change due to natural change: -0.7% (the lowest) > Total population, July 1, 2022: 1,775,156 (12th lowest) 3. Louisiana > Population change, July 1, 2021 to July 1, 2022: -0.8% (-36,857 people) > Population change due to net migration: -0.8% (3rd lowest) > Population change due to natural change: +0.0% (24th highest) > Total population, July 1, 2022: 4,590,241 (25th highest) 2. Illinois > Population change, July 1, 2021 to July 1, 2022: -0.8% (-104,437 people) > Population change due to net migration: -0.9% (2nd lowest) > Population change due to natural change: +0.0% (22nd highest) > Total population, July 1, 2022: 12,582,032 (6th highest) 1. New York > Population change, July 1, 2021 to July 1, 2022: -0.9% (-180,341 people) > Population change due to net migration: -1.1% (the lowest) > Population change due to natural change: +0.2% (13th highest) > Total population, July 1, 2022: 19,677,151 (4th highest) Sponsored: Want to Retire Early? Here’s a Great First Step Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free. Click here to match with up to 3 financial pros who would be excited to help you make financial decisions. The post States that Lost the Most People Last Year: All 50 States Ranked appeared first on 24/7 Wall St.......»»

Category: blogSource: 247wallstOct 27th, 2023

The sure-fire way to save America’s cities? Do what Tokyo does.

The world's biggest city keeps right on growing — without sacrificing its quality of life. Why can't America do the same? What's Tokyo's secret? Liberal and centralized land-use policies that give developers a lot of power to build what they want, when they want.Tyler Le/InsiderCities across the US are flailing under a worsening housing affordability crisis. Superstar metropolises from Los Angeles to Miami are becoming playgrounds for the elite. Americans fleeing New York and San Francisco for more affordable lives in the Sunbelt are experiencing sticker shock. The median home price in the US has jumped 52% just since January 2020.But affordability isn't an issue in the world's biggest city, Tokyo. Despite facing many of the same pressures of scarce land and a growing population, the city of 14 million builds much more housing — and much more quickly — than US cities do. Since the 1960s, Tokyo has tripled its housing supply, while New York's has grown by only about a third. And because housing is far more abundant in Japan's capital, it's also cheaper. The median Japanese tenant spends about 20% of their disposable income on rent (in America it's 30%). Rent for a studio or one-bedroom apartment in Tokyo, which Americans are fawning over as "the new Paris," is a quarter of what it is in New York. In September, when New York City Mayor Eric Adams unveiled his plan to build 100,000 new homes, he pointed enviously to Tokyo's ability to keep "housing costs down by increasing the supply of housing." "How are we allowing Tokyo to do things better than us?" he asked.Housing advocates across America are starting to ask the same question. Part of the answer is that build-happy Tokyo isn't in control of its own housing policies. And most of what happens in Tokyo would be illegal in America.Simple and centralized zoning So what's Tokyo's secret? Experts say it mostly comes down to liberal and centralized land-use policies, shaped over decades, that give developers a lot of power to build what they want, when they want. Thirty percent of homes in Japan's urban areas were destroyed in World War II. As the country attempted to rapidly rebuild itself, families started to grow and a large portion of the population migrated from rural areas to Tokyo and a few other major cities for better jobs, exacerbating an already severe housing shortage. So the federal government stepped in, set a simple and permissive set of zoning and land-use laws, and built thousands of public housing complexes, known as danchi, largely in the Tokyo suburbs. The government also introduced housing finance, offering homebuyers long-term fixed-rate mortgages. Decades later, when the housing bubble of the 1980s popped and flattened Japan's economy, the government deregulated its housing policies even further.What really sets Japanese housing policy apart from other advanced democracies is "the extreme concentration of decision-making at the national level," Alan Durning, executive director of the pro-housing non-profit Sightline Institute, told me. In the US, city councils make much of our housing policy. This gives immense power to existing residents, mostly homeowners, who vote in council elections and show up to community meetings to determine what gets built. Between the endless bickering, hyperlocal zoning regulations, historic preservation laws, and environmental reviews, much proposed new housing development gets dragged out or outright killed. "Japan is the exact opposite," said Durning. In collectivist Japan, housing policy is designed to benefit the most people possible. When national authorities make the decisions, "the broader community's interest in having an abundance of housing outweighs the opposition of neighbors," Durning said. If neighbors complain about a new apartment building going up on their block, tough luck. "Local government officials will say, 'Oh, I cannot do anything for you,'" said Jiro Yoshida, a business professor at Pennsylvania State University. In Japan, NIMBYism can't exist. Centralized zoning leads to more inclusive outcomes, while handing power to local interests tends to worsen inequity. Where the US has tens of thousands of different zoning systems across the country, Japan has 12. (Granted, Japan is geographically about the size of Montana, but it also has nearly 40% of the US population.) For most of those dozen, there are very few restrictions on mixing commercial and residential construction. "It's much more typical to see a 10-story apartment building with small studio apartments, and then a two-story house, and then a small commercial building with a restaurant or a grocery store right next to each other," says Jenny Schuetz, an expert in urban economics and housing policy at the Brookings Institution.When Yoshida moved from Tokyo to the US, he said he was shocked to discover the existence of two species never before spotted in Japan: land-use attorneys and permit expeditors. We have a whole ecosystem of professionals who make a living helping property owners navigate byzantine regulations, from real-estate attorneys to construction consultants. "That means that there's a lot of negotiation, and discretion, and uncertainty around the building permits and development entitlement" process, he said. Americans have a term for the types of buildings that fall between single-family homes and high-rise apartments — "missing middle housing." This term doesn't exist in Japan, because middle housing is far from missing. It's abundant, largely because it's legal and much cheaper and more efficient to build. The more builders construct the same type of structure, the faster and cheaper they can do it. Standardized zoning for multi-family housing would make building it much cheaper in the US, Schuetz said. The longer a developer spends tied up in regulatory processes, the higher the eventual project costs are. "The type of housing that's cheapest and fastest to build in the US are single-family detached homes in subdivisions, because builders reproduce exactly the same house thousands of times," she added. It helps that most Tokyo residents don't own cars, so parking doesn't inflate the price of housing as much as it does in the US. André Sorensen, a professor of geography at the University of Toronto, argues there's a "more important factor" in housing affordability than flexible zoning laws: An aging and shrinking population countrywide. As a result, there are about 10 million vacant homes across the country. With Tokyo's comprehensive mass transit, vacant homes in the suburbs offer Tokyo workers cheaper housing options just outside the city, says Sorensen.  "If there's a lot of abandoned housing in the suburbs, then that's going to also restrain upward pressure on prices in the center." Earthquakes and small homes Another feature of the Japanese housing market is purely situational: The country is a hotspot for earthquakes. After major seismic events, Japan updates its national building codes. Because these codes apply to virtually all buildings, older buildings quickly become non-compliant and unattractive to renters and buyers who want to live in safe homes. In America, the average age of a demolished building is 67 years, Yoshida found. In Japan, it's 32. The average home is significantly younger than the average Japanese resident. More demolition means more construction. "In any 100 year period, you have a lot more opportunities to replace a building with something much bigger," Durning said. In America, the average age of a demolished building is 67 years. In Japan, it's 32.Perhaps because of its history of earthquakes and fires, there's a much broader acceptance of the impermanence of buildings. "There's not a premium associated with older housing," said Nolan Gray, a city planner and research director for California YIMBY. In fact, older homes are referred to as "used" housing. While pre-war apartments in New York are coveted for their history and unique details, pre-war homes in Japan are largely considered unsafe and undesirable. Even the country's holiest structure — the Ise-Jingu Shinto shrine — is demolished and rebuilt every 20 years.Impermanence also means that most homes depreciate in value quickly. Japanese homeowners largely don't rely on selling their homes to fund their retirement the way Americans do. Loose zoning, abundant supply, and low housing costs aren't as in tension with Japanese homeowners' interests. As Durning notes, "The problem with housing policy in the United States is that it's not actually about housing, it's about real estate investment."Different cultural norms and preferences also set Japanese housing apart. Americans tend to like living in much larger spaces. Or, at least, that's what the market provides. In Tokyo, there are more than a million small studios and even micro-apartments under 100 square feet. Could the US import Japanese housing policy? American policymakers don't often look to learn from other countries. "The US is sort of famously insular in its political discourse," Durning says. "You can call it American exceptionalism or you can call it blindness of the imperial state."When they do look abroad, urban planners have traditionally relied on European examples. But many European cities aren't facing the same pressures of a fast-growing population and dynamic economy that American cities are. Vienna, which has a social housing system many Democrats celebrate as a model, isn't facing rapid population growth.But Durning says that's starting to change. As the US housing crisis has intensified, a few prominent experts, including Yoshida and Durning, have elevated Japan's approach to building. Japan's housing policy "is now quite well understood" among American housing advocates and scholars, he says, "whereas it was not even three years ago." Gray thinks there's some combination of policies and design from around the world that would create the most liveable and inclusive cities. "The best city combines Amsterdam public realm design with Tokyo-style land-use flexibility," he says."Most American consumers probably wouldn't want to live in the studio or one-bedroom apartments that Japanese people just sort of take for granted," Schuetz said. But, she added, we shouldn't have many of the minimum size regulations we have. Instead, we should let consumers decide what tradeoffs they're willing to make. "Allow the market to build stuff, and the market will figure out what people are willing to pay for," she says. City planners and housing researchers also say the US could move towards the Japanese model of centralized and non-restrictive zoning. Some states already have. California, Oregon, Washington, and Montana are "backing their way into a statewide system of zoning" by passing a slew of state-wide housing reforms, including legalizing denser and more mixed-use neighborhoods, Gray noted. "We're kind of accidentally building a Japanese-style zoning system here."Eliza Relman is a policy correspondent focused on housing, transportation, and infrastructure on Insider's economy team.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 4th, 2023

America can solve its housing crisis by following Tokyo’s example

The world's biggest city keeps right on growing — without sacrificing its quality of life. Why can't America do the same? What's Tokyo's secret? Liberal and centralized land-use policies that give developers a lot of power to build what they want, when they want.Tyler Le/InsiderCities across the US are flailing under a worsening housing affordability crisis. Superstar metropolises from Los Angeles to Miami are becoming playgrounds for the elite. Americans fleeing New York and San Francisco for more affordable lives in the Sunbelt are experiencing sticker shock. The median home price in the US has jumped 52% just since January 2020.But affordability isn't an issue in the world's biggest city, Tokyo. Despite facing many of the same pressures of scarce land and a growing population, the city of 14 million builds much more housing — and much more quickly — than US cities do. Since the 1960s, Tokyo has tripled its housing supply, while New York's has grown by only about a third. And because housing is far more abundant in Japan's capital, it's also cheaper. The median Japanese tenant spends about 20% of their disposable income on rent (in America it's 30%). Rent for a studio or one-bedroom apartment in Tokyo, which Americans are fawning over as "the new Paris," is a quarter of what it is in New York. In September, when New York City Mayor Eric Adams unveiled his plan to build 100,000 new homes, he pointed enviously to Tokyo's ability to keep "housing costs down by increasing the supply of housing." "How are we allowing Tokyo to do things better than us?" he asked.Housing advocates across America are starting to ask the same question. Part of the answer is that build-happy Tokyo isn't in control of its own housing policies. And most of what happens in Tokyo would be illegal in America.Simple and centralized zoning So what's Tokyo's secret? Experts say it mostly comes down to liberal and centralized land-use policies, shaped over decades, that give developers a lot of power to build what they want, when they want. Thirty percent of homes in Japan's urban areas were destroyed in World War II. As the country attempted to rapidly rebuild itself, families started to grow and a large portion of the population migrated from rural areas to Tokyo and a few other major cities for better jobs, exacerbating an already severe housing shortage. So the federal government stepped in, set a simple and permissive set of zoning and land-use laws, and built thousands of public housing complexes, known as danchi, largely in the Tokyo suburbs. The government also introduced housing finance, offering homebuyers long-term fixed-rate mortgages. Decades later, when the housing bubble of the 1980s popped and flattened Japan's economy, the government deregulated its housing policies even further.What really sets Japanese housing policy apart from other advanced democracies is "the extreme concentration of decision-making at the national level," Alan Durning, executive director of the pro-housing non-profit Sightline Institute, told me. In the US, city councils make much of our housing policy. This gives immense power to existing residents, mostly homeowners, who vote in council elections and show up to community meetings to determine what gets built. Between the endless bickering, hyperlocal zoning regulations, historic preservation laws, and environmental reviews, much proposed new housing development gets dragged out or outright killed. "Japan is the exact opposite," said Durning. In collectivist Japan, housing policy is designed to benefit the most people possible. When national authorities make the decisions, "the broader community's interest in having an abundance of housing outweighs the opposition of neighbors," Durning said. If neighbors complain about a new apartment building going up on their block, tough luck. "Local government officials will say, 'Oh, I cannot do anything for you,'" said Jiro Yoshida, a business professor at Pennsylvania State University. In Japan, NIMBYism can't exist. Centralized zoning leads to more inclusive outcomes, while handing power to local interests tends to worsen inequity. Where the US has tens of thousands of different zoning systems across the country, Japan has 12. (Granted, Japan is geographically about the size of Montana, but it also has nearly 40% of the US population.) For most of those dozen, there are very few restrictions on mixing commercial and residential construction. "It's much more typical to see a 10-story apartment building with small studio apartments, and then a two-story house, and then a small commercial building with a restaurant or a grocery store right next to each other," says Jenny Schuetz, an expert in urban economics and housing policy at the Brookings Institution.When Yoshida moved from Tokyo to the US, he said he was shocked to discover the existence of two species never before spotted in Japan: land-use attorneys and permit expeditors. We have a whole ecosystem of professionals who make a living helping property owners navigate byzantine regulations, from real-estate attorneys to construction consultants. "That means that there's a lot of negotiation, and discretion, and uncertainty around the building permits and development entitlement" process, he said. Americans have a term for the types of buildings that fall between single-family homes and high-rise apartments — "missing middle housing." This term doesn't exist in Japan, because middle housing is far from missing. It's abundant, largely because it's legal and much cheaper and more efficient to build. The more builders construct the same type of structure, the faster and cheaper they can do it. Standardized zoning for multi-family housing would make building it much cheaper in the US, Schuetz said. The longer a developer spends tied up in regulatory processes, the higher the eventual project costs are. "The type of housing that's cheapest and fastest to build in the US are single-family detached homes in subdivisions, because builders reproduce exactly the same house thousands of times," she added. It helps that most Tokyo residents don't own cars, so parking doesn't inflate the price of housing as much as it does in the US. André Sorensen, a professor of geography at the University of Toronto, argues there's a "more important factor" in housing affordability than flexible zoning laws: An aging and shrinking population countrywide. As a result, there are about 10 million vacant homes across the country. With Tokyo's comprehensive mass transit, vacant homes in the suburbs offer Tokyo workers cheaper housing options just outside the city, says Sorensen.  "If there's a lot of abandoned housing in the suburbs, then that's going to also restrain upward pressure on prices in the center." Earthquakes and small homes Another feature of the Japanese housing market is purely situational: The country is a hotspot for earthquakes. After major seismic events, Japan updates its national building codes. Because these codes apply to virtually all buildings, older buildings quickly become non-compliant and unattractive to renters and buyers who want to live in safe homes. In America, the average age of a demolished building is 67 years, Yoshida found. In Japan, it's 32. The average home is significantly younger than the average Japanese resident. More demolition means more construction. "In any 100 year period, you have a lot more opportunities to replace a building with something much bigger," Durning said. In America, the average age of a demolished building is 67 years. In Japan, it's 32.Perhaps because of its history of earthquakes and fires, there's a much broader acceptance of the impermanence of buildings. "There's not a premium associated with older housing," said Nolan Gray, a city planner and research director for California YIMBY. In fact, older homes are referred to as "used" housing. While pre-war apartments in New York are coveted for their history and unique details, pre-war homes in Japan are largely considered unsafe and undesirable. Even the country's holiest structure — the Ise-Jingu Shinto shrine — is demolished and rebuilt every 20 years.Impermanence also means that most homes depreciate in value quickly. Japanese homeowners largely don't rely on selling their homes to fund their retirement the way Americans do. Loose zoning, abundant supply, and low housing costs aren't as in tension with Japanese homeowners' interests. As Durning notes, "The problem with housing policy in the United States is that it's not actually about housing, it's about real estate investment."Different cultural norms and preferences also set Japanese housing apart. Americans tend to like living in much larger spaces. Or, at least, that's what the market provides. In Tokyo, there are more than a million small studios and even micro-apartments under 100 square feet. Could the US import Japanese housing policy? American policymakers don't often look to learn from other countries. "The US is sort of famously insular in its political discourse," Durning says. "You can call it American exceptionalism or you can call it blindness of the imperial state."When they do look abroad, urban planners have traditionally relied on European examples. But many European cities aren't facing the same pressures of a fast-growing population and dynamic economy that American cities are. Vienna, which has a social housing system many Democrats celebrate as a model, isn't facing rapid population growth.But Durning says that's starting to change. As the US housing crisis has intensified, a few prominent experts, including Yoshida and Durning, have elevated Japan's approach to building. Japan's housing policy "is now quite well understood" among American housing advocates and scholars, he says, "whereas it was not even three years ago." Gray thinks there's some combination of policies and design from around the world that would create the most liveable and inclusive cities. "The best city combines Amsterdam public realm design with Tokyo-style land-use flexibility," he says."Most American consumers probably wouldn't want to live in the studio or one-bedroom apartments that Japanese people just sort of take for granted," Schuetz said. But, she added, we shouldn't have many of the minimum size regulations we have. Instead, we should let consumers decide what tradeoffs they're willing to make. "Allow the market to build stuff, and the market will figure out what people are willing to pay for," she says. City planners and housing researchers also say the US could move towards the Japanese model of centralized and non-restrictive zoning. Some states already have. California, Oregon, Washington, and Montana are "backing their way into a statewide system of zoning" by passing a slew of state-wide housing reforms, including legalizing denser and more mixed-use neighborhoods, Gray noted. "We're kind of accidentally building a Japanese-style zoning system here."Eliza Relman is a policy correspondent focused on housing, transportation, and infrastructure on Insider's economy team.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 4th, 2023

Younger baby boomers are facing a homelessness crisis as rents skyrocket and outpace Social Security

More baby boomers are facing homelessness as rent prices outpace Social Security payments. A subsidized housing shortage compounds the problem. Jeffrey Snow, a former math teacher who lacks housing, sits under the I-95 expressway in Miami.Daniel A. Varela/Miami Herald/Tribune News Service via Getty ImagesBaby boomers, especially younger members, comprise a growing percentage of homeless people.Many are struggling to keep up with skyrocketing rents while pandemic aid dwindles.A shortage of subsidized housing is compounding the problem.While housing costs in the US continue to skyrocket and homelessness has become a crisis, no group appears to be getting hit harder than young baby boomers.Data from the Department of Housing and Urban Development obtained by The Wall Street Journal showed that adults 65 and older comprised the fastest-growing portion of homeless Americans.From 2007 through 2017, the percentage of people 51 and older in homeless shelters rose from 16.5% to 23%, a rate greater than what would be expected just from the increase in people of that age group. In 2018, the department started tracking people 55 and older in homeless shelters, and the figure rose from 16.3% to 19.8% in 2021.The National Health Care for the Homeless Council reported that the proportion of patients 50 or older who it serviced in 2022 was 36%, up from 25% 15 years earlier."This is a level of a problem that we have not seen before," Barbara DiPietro, the group's senior director of policy, told the Journal. "We are seeing older people in shelters and encampments or who are living in their cars at a rate that we never had before."A 59-year-old homeless woman in California.Irfan Khan/Getty ImagesThis trend seems to be exasperated by "trailing edge" boomers, the second half of the group, born between 1956 and 1964. The Wall Street Journal said this group entered the workforce and immediately felt the economic impact of the recessions in the mid-1970s and early '80s, which made the group's overall financial health more precarious as they entered their retirement age.Many of the "trailing edge" boomers experienced homelessness for the first time later in life. A 2017 University of California, San Francisco, study found that 43.6% of the homeless adults ages 50 or older that it interviewed became homeless for the first time after turning 50.Living costs are skyrocketing, and pandemic aid is disappearingAll older people who are retired or heading into retirement are doing so at a time when two economic forces are working against them: housing costs and an end to pandemic-era aid programs.According to the Social Security Administration, the average Social Security benefit is now $1,706 per month, more than $300 below the nearly record-high national median rent price of $2,052.Rent increases have hit Florida — which has the second-highest rate of US citizens 65 or older and the largest total number of people that age and above — especially hard. Half of the 20 metro cities with the steepest rent increases since the onset of the pandemic are in Florida, the Journal reported.Additionally, of all retirees who moved to a new state in 2022, 11.8% went to Florida. North Carolina, at 9.6%, was the only other state close to that.Meanwhile, as the number of Americans 65 or older is expected to grow 45% between 2020 and 2040, from 56 million to 81 million, the volume of available affordable housing is shrinking.A Wall Street Journal analysis of federal data found the US had at least 600 fewer nursing homes than it did in 2017. In Florida, there are long waiting lists for low-cost senior housing and long-term care facilities paid for by Medicaid, the Journal reported. A Florida Housing Coalition study found the state had only 25 affordable and available rental units for every 100 extremely low-income renters.Government data obtained by the Journal showed homelessness was up 11% from 2022, which would crush the previous record of 2.7% in 2019, and the end of COVID-19 relief is not helping."The COVID-relief funds provided a buffer," Donald Whitehead Jr., the executive director at the National Coalition for the Homeless, told the Journal. "We're seeing what happens when those resources aren't available."One example is the expansion of Supplemental Nutrition Assistance Program benefits to help feed low-income families during the earlier days of the pandemic, which came to a halt in March. At one point in 2021, the program was believed to have kept 4.2 million out of poverty.Without COVID-19-relief resources, many older people are relying even more on their Social Security benefits. According to the AARP, 45% of people 65 or older rely on Social Security for at least half of their income, and the payments keep 16 million older Americans out of poverty each year.If housing continues to become harder to find and costs continue to skyrocket, older Americans will increasingly need to find other forms of income, or the homelessness crisis will almost certainly get worse.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 15th, 2023

Flee California as Soon as Possible

There are a wide range of reasons not too live in California. Much of California has become a hell hole. The weather has become dangerous in several large areas. This has led to vast wildfires and flooding. Large cities are not as attractive to residents as they once were. San Francisco, in particular, is considered barely habitable according to thousands of residents, some of whom have left. (These are America’s fastest-shrinking big cities.) The New York Times recently published figures on California’s population. People are leaving. In a story titled “The Population of California Declined, Again,” the author points out that, in America’s largest state by population, “In 2022, the state’s population dropped by roughly 138,400 people, to 38.94 million.” The analysis also pointed out that this was part of a three-year trend. Several studies support broad public opinion. California was recently ranked as the worst-run state in America. The Washington Examiner showed the problems included a huge budget deficit and unaddressed climate problems. It also reviewed infrastructure and road quality. CNBC recently named California as one of the five worst states to retire. The yardsticks included in the analysis were affordability, well-being, health care quality and cost, crime, and weather. The state is also on other worst-state lists. Among those is the worst state to drive in, according to the Sacramento Bee. San Francisco, one of the state’s largest cities, is a microcosm of the state’s problems. Based on income, the nation’s richest large city has almost fallen apart for years. According to Newsweek: “Struggling with rampant homelessness, a drug crisis, surging crime and several business closures, San Francisco is no longer the thriving city it used to be.” Hotels and retailers, once mainstays of the city have closed. The state’s largest city, Los Angeles, has a huge and persistent problem. According to The Guardian, its homeless population is 75,000, which is about the count of a midsized American city. California is at the center of America’s climate disasters. Many of the largest wildfires in U.S. history have been in California, particularly recently. Flooding has caused billions of dollars in damages. Most recently, Hurricane Hilary (downgraded to a tropical storm when it hit California) blitzed the southern part of the state with high winds and record rainfalls in some places. Ergo, parts of California are dangerous places to live. California is also one of the most expensive states to live in. According to TurboTax, this includes the cost of personal income tax, which tops the nation at 13.3%. 24/7 Wall St. How Much You Need to Earn to Be Middle Class in America’s 50 Largest Cities wallst_recirc_link_tracking_init( "94378246764e4cc8012583", "graphic" ); Some California cities have become unlivable for the middle class. Among the best examples is San Jose, America’s most expensive housing market. California was a mecca for decades. Population growth made it the largest state in America based on that measure. Those days are gone. People are fleeing California by the hundreds of thousands. Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit......»»

Category: blogSource: 247wallstAug 22nd, 2023

These Are America’s 19 Fastest Shrinking Big Cities

The U.S. population experienced historically slow growth in 2022, increasing just 0.4% compared to the previous year. While some American cities over the past half decade or so have undergone extreme population growth, a number of prominent American urban areas recorded a major exodus of residents. While many of these declines occurred in Rust Belt […] The U.S. population experienced historically slow growth in 2022, increasing just 0.4% compared to the previous year. While some American cities over the past half decade or so have undergone extreme population growth, a number of prominent American urban areas recorded a major exodus of residents. While many of these declines occurred in Rust Belt metropolitan areas, there are many exceptions.  To identify the most rapidly-shrinking large United States cities, 24/7 Wall St. reviewed population data from the U.S. Census Bureau’s 2021 American Community Survey one-year estimates. We listed all 19 metropolitan statistical areas with at least a 5% population drop from 2016 to 2021. We added seasonally-adjusted December employment figures – used to calculate employment growth from 2016 to 2021 – from the Bureau of Labor Statistics.  The enduring shifts in U.S. geographical patterns remain unchanged. A substantial share of the nation’s population resides within three states: California, Texas, and Florida, with the latter two states contributing significantly to population growth. However, our findings reveal that even within the most populous states, specific metro areas experienced a decline in residents. (Also see, the 15 countries Americans are moving to the most.) West Virginia continues to contend with population loss. Among the 19 metropolitan areas that saw the greatest population decline over the past five years, three are the state of West Virginia. Additionally, Illinois also exhibits a noteworthy presence on this list with three of its metro areas featured. The Prairie State is one of ten states that experienced population contraction between 2018 and 2019. Both Nebraska and Arkansas each contribute two metro areas to the list. The metropolitan areas on this list range from the least-populous Danville, Illinois, with 73,000 residents, to the more populated Corpus Christi, Texas, with 423,000 residents. While not on this list, some smaller population centers are also shrinking. . These are America’s disappearing small towns. Notably, Kalamazoo-Portage, Michigan, experienced the most substantial percentage-based population decline. It is remarkable that this metro area was the sole one to observe an increase in unemployment from 2016 to 2021. Click here to see America’s fastest shrinking big cities. Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit......»»

Category: blogSource: 247wallstAug 18th, 2023

West Coast Collapse: America"s Most Affluent Regions Are Dying Under Democrat Control

West Coast Collapse: America's Most Affluent Regions Are Dying Under Democrat Control The recent implosion of Silicon Valley Bank out of Santa Clara, California was highly symbolic of the greater decline in progress on the west coast of the US.  The bank, which also had branch offices in the east, primarily operated out of the far-left corridor of LA, San Francisco, Portland and Seattle.  SVB was a key hub in California for the proliferation of ESG investment and was deeply involved in ESG and DEI (Diversity, Equity and Inclusion) related policies.  The bank was intended as a model for “woke-capitalism.” The corporate world is quietly and quickly attempting to remove ESG terminology from their public websites and reports now that the money is drying up, and the media has tried to deny that ESG had anything to do with the bank crisis in the spring.  However, SVB's own internal reports outline quite clearly their ESG goals and projects. The point?  Get woke, go broke.   The way SVB was governed was similar to how California, Oregon and Washington State are governed now – Chasing far-left ideology and dreams of progressive Utopia to the detriment of everything else, including the economy and the security of the citizenry.       It's important to mention that things were not always this way.  Pundits are quick to point out that states like California were wealthy and successful under Democrat leadership decades ago.  But what these people don't want to talk about is the fact that the Democrat politicians of the past 5-10 years are not the same as the Democrats of previous eras. ESG was not a core mission for Democrats 20 years ago.  DEI was not a core mission for them 20 years ago.  And, management of west coast policies was far more balanced in years past with more conservative involvement.  One could make the argument that the Dems of today are the inevitable end result of any progressive party, and that full-blown collectivism was always the end game.  The point remains that woke Democrats are not your grandfather's Democrats. They are a different breed; a different species with a far more obsessive and aggressive manifesto. The results?  Almost every major city on the coast has been witnessing a population exodus for at least the past three years.  Setting aside obscuring factors such as the birth/death ratio as well as illegal immigration, LA County saw over 300,000 citizens leave since 2020.  The Bay Area lost 250,000 people.  Portland, Oregon is now one of the fastest shrinking cities in America, losing 3% of its population in only two years.  Seattle is the only city that is not seeing a migration (at least not yet). Why is this happening, beyond the nearly three years of pointless pandemic lockdowns and covid mandates?   Leftist policies leading to social instability and higher crime are a good place to start (note that most west coast cities still do provide full reports on crime data to the FBI, and will not until 2025).   California specifically is adhering to Prop 47, which makes all theft under $950 a misdemeanor instead of a felony, and misdemeanors are rarely pursued with any vigor by police departments.  Meaning, theft under $950 is essentially welcomed by Democrats.  With rising property crime often comes rising violent crime.  Perpetrators think that if they can get away with theft, maybe they can also get away with assault, or even murder.  Similar woke laws and attempts to “defund” police have created an atmosphere of belligerence – Criminals are emboldened by Democrat politicians.      LA had an 11% spike in crime in 2022.  San Francisco has had a nearly 8% increase in violent crime in the past three years, a 20% increase in property crime and 17% increase in homicides.  Portland had a 35% increase in burglaries from 2019-2022, and they hit an all time record number of homicides in 2022.  Property crime and violent crime hit a 15-year high in Seattle in 2022, with verified criminal shootings rising 125% since 2019.  The true numbers will likely be revised much higher when full data is released to the FBI in 2025.   San Francisco in particular has provided a steady supply of violent crime videos on social media.  Residents are afraid to leave their homes in many neighborhoods, knowing that the city has no intention of helping solve the problem or cracking down on felons.   Then there's the exploding costs and rising poverty.  West coast cities dominate the top of the list of the most expensive places to live in the US.  High taxes, rampant inflation and stagnant wages are all contributors.  There is a good reason people are leaving these states in droves.         The west coast is not alone in the overall decay that America is experiencing, it is just the most advanced and should be treated as a canary in the coal mine for the rest of the country.  Regions managed under far-left leadership are all facing imminent destabilization and this fact needs to be addressed on the national stage.  Is the fall of the west coast (and parts of the east coast) a precursor to the fall of the US?  If so, the most logical solution would be to take power away from the leftists causing the rot.      Tyler Durden Mon, 08/14/2023 - 18:40.....»»

Category: smallbizSource: nytAug 14th, 2023

The 10 fastest-shrinking US cities and towns

Miami and San Francisco have been experiencing population declines, though Census data reveals St. Louis and New Orleans are shrinking the fastest. Jackson, MississippiJeremy Woodhouse/Getty Images Jackson, Mississippi, led the nation in the rate of population decline from July 2021 to July 2022. Many left the Bay Area and Utah, as well as St. Louis and New Orleans. San Francisco, which was the fastest-declining city from July 2020 to July 2021, did not make the top 15. The Miami metro area has been experiencing its first population decline over a multiyear period since 1970. Miami, though, is not alone.In fact, Miami's nowhere near the top ten for rate of recent population loss, according to May data from the US Census Bureau.Though the Midwest is experiencing a "doom loop" in many of its cities, in which remote work has slowed the economies of Midwestern cities, only one Midwestern city made the top ten cities and towns shrinking at the fastest rate between 2021 and 2022.In an analysis of nearly 20,000 cities, towns, villages, and boroughs across the US, the Census Bureau found that places in Utah and Louisiana saw especially sharp declines. That's a change from the previous year, which included San Francisco, New York City, Washington, D.C., and Boston in the top 15 declining cities between July 2020 and 2021.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r.....»»

Category: topSource: businessinsiderAug 5th, 2023

4 Stocks to Watch on Dividend Hikes as Economic Worries Worsen

UnitedHealth Group Incorporated (UNH), Johnson Controls International plc (JCI), Casey's General Stores, Inc. (CASY) and TotalEnergies SE (TTE) hike dividends. Wall Street has been going through a turbulent phase over the past couple of months despite starting the year on a high. Although all three major indexes closed higher last week, the volatility continues over growing concerns of the economy slipping into a recession later this year.The Nasdaq had an impressive May, ending 5.8% higher, driven by a rally in tech stocks. The S&P 500 also ended 0.2% higher but the Dow suffered throughout the month, ending 3.5% down.This is because stocks are struggling for direction as market participants have so far been unable to gauge the Fed’s future interest rate hike path.Investors are now looking forward to the Fed’s next policy meeting scheduled for this month. Expectations are high that the Fed might finally pause hiking interest rates in this meeting but the picture isn’t clear yet. The central bank has already hiked interest rates on 10 consecutive occasions, with interest rates currently in the range of 5.00-5.25% range.Inflation has lately started showing signs of easing but it is still a lot higher than the Fed’s target range of 2%. There are multiple other concerns that have been unsettling stocks. Although the unemployment rate rose to 3.7% in May, the highest in several years, the labor market continues to be resilient.According to the latest jobs report from the Bureau of Labor Statistics, nonfarm payrolls increased by 339,000 in May against expectations of 190,000. The strong labor market has raised concerns that the Fed might be forced to continue with its aggressive interest rate hike stance.Besides, market participants are also closely watching the global economy, which has further raised concerns. On Jun 8, the Eurozone slipped into recession after the 20-nation block’s economy declined 0.1% in the first quarter of 2023, after contracting in the final quarter of 2022.Last month, Germany said that its economy entered recession after shrinking 0.3% between January and March. Also, China, which is considered the global manufacturing hub, has been witnessing a contraction in economic activity. Factory activity shrunk at the fastest pace in the first five months of the year in China, while service activity has advanced at its slowest pace in the past four months.Stocks in FocusGiven this situation, betting on dividend-paying stocks would be a wise decision. Dividend stocks with a solid business plan and a proven track record are known for handling market volatility. An astute investor should thus consider stocks that have recently raised their dividend payments. Four such companies are UnitedHealth Group Incorporated UNH, Johnson Controls International plc JCI, Casey's General Stores, Inc. CASY and TotalEnergies SE TTE.UnitedHealth Group provides a wide range of healthcare products and services, such as health maintenance organizations, point of service plans, preferred provider organizations  and managed fee-for-service programs. UNH has the largest and most diverse membership base within the managed-care organization market, which gives it significant competitive advantages.On Jun 7, UnitedHealth Groupdeclared that its shareholders would receive a dividend of $1.88 a share on Jun 27, 2023. UNH has a dividend yield of 1.37%. Over the past five years, UnitedHealth Grouphas increased its dividend six times, and its payout ratio at present sits at 29% of earnings. Check UnitedHealth Group’s dividend history here.UnitedHealth Group Incorporated Dividend Yield (TTM) UnitedHealth Group Incorporated dividend-yield-ttm | UnitedHealth Group Incorporated QuoteJohnson Controls is a diversified technology company and a multi-industrial leader, with customers spanning over 150 countries. JCI’s operations include creating intelligent buildings, and providing efficient energy solutions and integrated infrastructure that work seamlessly together to deliver on the promise of smart cities and communities.On Jun 7, Johnson Controls announced that its shareholders would receive a dividend of $0.37 a share on Jul 14, 2023. JCI has a dividend yield of 2.26%. Over the past five years, Johnson Controls has increased its dividend five times, and its payout ratio at present sits at 44% of earnings. Check Johnson Controls’ dividend history here.Johnson Controls International plc Dividend Yield (TTM) Johnson Controls International plc dividend-yield-ttm | Johnson Controls International plc QuoteCasey's General Stores operates convenience stores under the Casey's and Casey's General Store names in 16 Midwestern states, mainly Iowa, Missouri and Illinois. CASY also operates two stores under the name Tobacco City, selling primarily tobacco and nicotine products, one liquor store, and one grocery store. Casey’s General Stores sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.On Jun 6, Casey's General Stores declared that its shareholders would receive a dividend of $0.43 a share on Aug 15, 2023. CASY has a dividend yield of 0.70%. Over the past five years, Casey's General Stores has increased its dividend six times, and its payout ratio at present sits at 13% of earnings. Check Casey's General Stores’ dividend history here.Casey's General Stores, Inc. Dividend Yield (TTM) Casey's General Stores, Inc. dividend-yield-ttm | Casey's General Stores, Inc. QuoteTotalEnergies SE is among the top five publicly traded global integrated oil and gas companies based on production volumes, proved reserves and market capitalization. TTE has operations in more than 130 countries across five continents.On May 31, TotalEnergiesannounced that its shareholders would receive a dividend of $0.59 a share on Jul 17, 2023. TTE has a dividend yield of 3.74%. Over the past five years, TotalEnergieshas increased its dividend nine times, and its payout ratio at present sits at 17% of earnings. Check TotalEnergiesdividend history here.TotalEnergies SE Sponsored ADR Dividend Yield (TTM) TotalEnergies SE Sponsored ADR dividend-yield-ttm | TotalEnergies SE Sponsored ADR Quote 4 Oil Stocks with Massive Upsides Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."  Zacks Investment Research has just released an urgent special report to help you bank on this trend.  In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations. Download your free report now to see them.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report Johnson Controls International plc (JCI): Free Stock Analysis Report Casey's General Stores, Inc. (CASY): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Category: topSource: zacksJun 10th, 2023

Fastest Shrinking Local Economy In Every State

The U.S. economy continues to show resilience despite higher interest rates and inflation. The national unemployment rate touched 3.4% in January and again in April this year, the lowest rate since 1969. At the same time, the labor force participation rate — a key metric that measures the number of adults who have jobs or […] The U.S. economy continues to show resilience despite higher interest rates and inflation. The national unemployment rate touched 3.4% in January and again in April this year, the lowest rate since 1969. At the same time, the labor force participation rate — a key metric that measures the number of adults who have jobs or are actively seeking employment — has been steadily rising after sharply declining early in 2020 at the beginning of the coronavirus pandemic and ensuing business shutdowns. The nation’s GDP has grown in all but seven quarters since 2009. These seven quarters include the two quarters during the early months of the pandemic that were quickly followed by a huge rebound in economic activity in the third quarter of 2020. But in a country the size of the United States, there are many pockets of economic winners and losers. Using data from the U.S. Bureau of Economic Analysis, 24/7 Wall St. reviewed historical data on GDP to find the fastest shrinking local economy in every state. Counties and county equivalents were ranked based on the percentage change in real GDP from 2017 to 2021.  All counties in Delaware, Maine, and Rhode Island reported flat or positive real GDP growth from 2017 to 2021, so the fastest shrinking local economy in those states is the county with the slowest GDP growth over the period. (Here are the best and worst state economies according to new prosperity index.) These counties with negative GDP growth from 2017 to 2021 indicate areas that the resilient U.S. economy has left behind in recent years. In fact, the economies of 13 counties on the list shrank by at least a third, with the worst contraction hitting the 27,564 residents of southern Ohio’s Adams County, who saw their local economy slashed by nearly half. Unemployment in 22 of these counties, which have small populations, was above the national rate of 5.3% in 2021. The median population of these 50 struggling countries is about 14,000. Only six have populations higher than 100,000, and only three are home to more than a half million people. Severely impacted by the coronavirus pandemic and limited on air travel, was Honolulu County, Hawaii –the only country on this list with a population that’s over 1 million residents. (Here are cities that will add the most jobs by 2060 according to economists.) All but eight of these counties have a per capita GDP that is lower than the national average of $61,855 in 2021. Five of these countries — located in Georgia, Arkansas, Alabama, Kentucky, and West Virginia — have per capita GDPs that are lower than $20,000, or less than the per capita GDP of Greece. Here are the fastest shrinking local economies in the United States. Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit......»»

Category: blogSource: 247wallstMay 28th, 2023

Here are the fastest-growing and fastest-shrinking big US cities

Seven of the 10 fastest-growing metro areas are in Florida, according to the latest Census estimates. That includes The Villages and Lakeland. The Villages, Florida, saw its population from July 1, 2021, to July 1, 2022, climb by 7.5%.Michael Warren/Getty Images Over half of the 10 fastest-growing cities are in Florida. That's according to population changes from July 1, 2021, to July 1, 2022, for metropolitan statistical areas. The Villages, Florida, was the fastest-growing metro, while Houma, Louisiana, was the fastest-shrinking metro. Seven of the 10 fastest-growing metro areas are in Florida.Insider analyzed population estimates from the Census Bureau for the 384 metropolitan statistical areas in the US. We took the percent change in total metro area population from July 1, 2021, to July 1, 2022, to look at the places with the largest percent increases and decreases.The Villages, Florida, had the greatest percent increase at 7.5%. The metro area grew by 10,103 to 144,970. The metro area of Myrtle Beach-Conway-North Myrtle Beach, South Carolina-North Carolina, followed behind The Villages' percent increase. This metro area saw population climb by 5.0% or by 25,340.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r.....»»

Category: topSource: businessinsiderMay 22nd, 2023

America is refusing to do the one simple thing that would solve the Great People Shortage

The Great People Shortage is about to wreak havoc on the US economy — but there's an easy way to fix it. The US needs more workers or it will face serious economic chaos. There's a clear fix: more immigration.Tyler Le/InsiderTwo simple words: more immigrantsAmerica needs more workers. The United States is already running low on critical positions such as nurses, home-health aides, farmworkers, and truckers. And there are fewer young people on the way to make up the difference: The National Bureau of Economic Research found that birth rates in the US have declined by nearly 20% since 2007, while the fertility rate has been below the replacement level for decades.That means that unless people start having a lot more kids, the US population could eventually start to shrink — just like China's population has. The problem, though, isn't just a smaller population, but an aging one. With fewer people to pay into Social Security to support the growing number of retirees and fewer workers in critical industries, including healthcare and agriculture, a declining population would have devastating consequences for the American economy."This is the issue of the future, because this is going to become the first-order issue for all kinds of industries in America," Lant Pritchett, a development economist and RISE Research director at Oxford University's Blavatnik School of Government, told me. "They just won't be able to attract workers." Politicians have suggested various ways to encourage people to have more children: "We will support baby bonuses for a new baby boom," former President Donald Trump said at a conference in March. But even if these policies went into effect, we'd still have to wait for those kids to grow up before they could enter the workforce. The labor imbalance is already here, and the economy needs more workers now. That's why a growing number of demographers, economists, and business executives support letting more immigrants into the US as a more immediate way to fill in the gaps. President Joe Biden's economic advisors even said in March that more legal immigration is needed to boost the economy. And while immigration is a politically touchy solution, the quickly aging US economy is running out of options to keep itself afloat. "The only solution is more workers," Pritchett said.America's People ShortageThe US fertility rate first dipped below the replacement level — the rate needed to sustain the population, which is about 2.1 births per woman — in the 1970s. After rebounding in the 1990s and early 2000s, the rate began a steady decline in 2007 that has not reversed. While the US population has managed to avoid an outright drop, population growth reached an unprecedented low of 0.12% in 2021. Some of this loss can be attributed to the deaths of over one million Americans during the pandemic, but the COVID crisis only exacerbated preexisting demographic trends. Americans are getting older: The median age of the US population has increased by roughly 3.5 years since 2000, according to the Census Bureau, and 2021 saw the largest upward shift in the population age ever recorded.According to estimates, these trends won't reverse anytime soon. The Congressional Budget Office estimated this year that population growth will slow between 2023 and 2053, and that by 2042, any growth will be from immigration, not births. Kenneth Johnson, a professor of sociology and a senior demographer at the University of New Hampshire, pointed out that the demographic mismatch is even more dire when you look at county-by-county data. Deaths outnumbered births in two-thirds of US counties in 2021, creating a phenomenon that demographers call "natural decrease." Even before the pandemic, roughly half of all US counties had more deaths than births, he said.Johnson said that one big debate among demographers is whether people are simply delaying having children or just putting it off altogether. It's possible that a combination of factors, including the lingering effects of the Great Recession, coupled with crushing student-loan debt, the rising cost of housing, and the pandemic simply pushed back the timeline for many people to have children. After all, birth rates did rise slightly in 2021 likely due to stimulus payments and the flexibility of remote work. But Johnson told me that, "Right now, my impression is that a fair number of those babies aren't going to be born." Policymakers and economists have suggested myriad ways to increase the number of babies people are having — ranging from "baby bonds" to a stronger social safety net. But some ideas to boost fertility come with a sinister undercurrent. The fascination with increasing birth rates has particularly taken hold on the political right, which has long had a fascination with the racist conspiracy theory that there is a global plot to "replace" white Americans with immigrants. Trump's baby-boom plan, for instance, may have been inspired by Hungary's family-planning program, which is designed to encourage white heterosexual couples to have more children. "Migration for us is surrender," Hungary's far-right Prime Minister Viktor Orbán said in 2019.Right now, my impression is that a fair number of those babies aren't going to be born. Kenneth Johnson, University of New HampshireThe pronatalist movement, which argues that people should be having more babies, has also grabbed hold in Silicon Valley — but some of its adherents don't believe that just anyone should be having children. Tech billionaires like Elon Musk (who has 10 children) have become convinced that they need to have lots of children to save the human race. And one Silicon Valley couple has started a campaign to encourage more people like themselves to have children, speaking openly about their use of reproduction technology to select embryos based on genetic testing.But so far, policies designed to induce people into having more kids have been a bust. Japan has struggled with a declining birthrate for decades despite efforts to encourage families to have more children. Earlier this year, Prime Minister Fumio Kishida warned that Japan was "on the brink of not being able to maintain social functions" due to population decline, adding that it was "now or never" to solve the problem. China's population is both aging and shrinking as well, and after decades of restrictive family-planning policies the country is trying to change course. In recent years, China has reversed its notorious "One Child Policy" and started restricting abortions for "non-medical reasons." But the country's population is still declining. How immigration can boost the economyIn the face of looming population decline and resulting labor shortages, there is a clear answer staring the US in the face: immigration. Allowing more people to become Americans would not only help immediately alleviate some of the labor shortages plaguing the US economy but would also help to stem some of the country's long-term population decline. Historically, the median age of immigrants has been younger than the median American age. And people of working age — meaning those aged 18 to 64 — comprised 77% of the immigrant population in 2021, compared to just 59% of the US-born population that same year. Immigrants, Johnson said, "bring not only themselves," but also the potential for more children, further boosting the US population and productivity.Though current immigration rates — particularly the number of migrants apprehended at the border — are the subject of contentious national debate, recent Census data shows that the total number of immigrants arriving in the country isn't enough to offset population losses. Between 2021 and 2022, the number of immigrants in the 20 most populous counties in the country nearly tripled, but most of those counties still saw their overall populations decline. Despite increased immigration, Los Angeles County's population declined by 90,000 people in 2022 — and by 180,000 people the previous year.In order to truly prevent a people shortage, the US will need to let more people into the country. And there's already evidence that immigrants can help boost local economies — and transform entire cities. Immigrants are 80% more likely to start a business than people born in the US, and recent data shows that they've started more than 25% of businesses in seven of the eight fastest-growing sectors of the US economy. Because of that, research has found that immigrants actually create more jobs than they take. Plus, across the US, several key industries — including agriculture, meatpacking, manufacturing, and healthcare — depend on immigrant labor. And if we boost immigration rates, the incoming workers could help ease labor shortages in these critical fields. Critical industries such as agriculture and healthcare rely on immigrant labor.Sandy Huffaker/AFP via Getty ImagesFrom central Indiana to New York City, businesses are struggling because they can't hire enough workers to fill their open roles. "If we don't do this and have a positive conversation about immigration today, it will continue to crush Hoosier households and economy," Patrick Tamm, the president and CEO of the Indiana Restaurant and Lodging Association, told a local publication. Take Utica, New York. The city's population declined from 100,410 people in 1960 to just over 60,500 in 2000. But instead of facing extinction, the post-industrial city's population slowly began rebounding in the 1990s with the arrival of Bosnian immigrants fleeing the Yugoslav Wars, who were followed by refugees from Myanmar in the 2000s and, more recently, Bantu refugees from Somalia. The city's relatively low cost of living has made it a hub for people fleeing conflicts around the world, who resettle with the help of refugee-aid organizations. Though the city's population still hovers around 60,000, it would be much lower if not for the resettled refugees and their families, who now make up about 25% of Utica's population."The refugee population has helped the city's economy tremendously," Brian Thomas, the commissioner of Utica's Department of Urban and Economic Development, told CNBC.Political compromise? Immigration has, of course, been a political hot potato for decades. One 2022 survey found that one-third of Americans and two-thirds of Republicans believe in tenets of the so-called "Great Replacement" theory. A February Gallup poll found that just 28% of responding Americans are satisfied with our current immigration rates, and most of those who are dissatisfied want immigration to decrease. But even without a huge overhaul of the entire system, there are clear solutions that could help welcome more talented, much-needed workers to America.One way the US could encourage more immigration is by focusing on temporary visas for specific industries that need workers. Japan took this approach and quietly opened itself to foreign workers in 2019 when it began allowing "specific skilled workers" in 14 key industries. These workers are allowed to stay in the country for up to five years on temporary labor visas — but they aren't allowed to bring their families. Lawmakers hoped that the policy would attract around 345,000 workers in a five-year period, or an average of 5,750 people each month. Pritchett said this model could also work in the United States. "A lot of people in the world would love to come work in a high-productivity place and would be more than willing to do so not in an exploitative way, but on a term-limited basis," he told me.There are already two guest-worker programs in the United States: The H-2A program for temporary agricultural laborers and the H-2B program for temporary non-agricultural workers. Both programs give temporary work visas to people tied to specific employers. The current programs are not perfect, however, and workers on H-2A and H-2B visas have sounded the alarm over squalid living conditions, wage theft, and exploitation. And the treatment of workers in the country on temporary visas has been a problem for decades. For these programs to be expanded, there would need to be significant safeguards in place to ensure workers aren't exploited.And there are other approaches that could work. Tara Watson, an economist and the director of the Center on Children and Families at the Brookings Institution, said that solutions focused on bringing people here on a long-term basis are more in line with what the US needs. "I'd rather see more expansion on the permanent side than the temporary side, because I think the challenges that we're facing are long-run challenges and they really require long-run solutions," Watson said. She said that a good place to start would be expanding both family- and employment-based migration by simply allocating more visas in each category. Scaling up both programs would make an immediate difference, she said. Other simple solutions include lifting the cap on the number of skill-based green cards issued to immigrants from each country and letting people on non-immigrant visas renew their status in the United States, rather than having to leave the country to do so. Regardless of the approach, the biggest hurdle is a matter of political will. "I think there will be some resistance to this as a solution," said Watson. "But I also think it's essentially an imperative." After all, the US is running out of options, and soon its growing people shortage is going to spell economic disaster.Watson said that the economic forces will eventually overwhelm the "white-nationalist far right" that has "played an outsize influence" on the immigration debate. "If we don't solve this problem in the next couple of years, it's going to come to a head," she said.Gaby Del Valle is a writer and reporter living in Brooklyn. She coauthors the immigration newsletter BORDER/LINES.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 4th, 2023

Futures Steady Ahead Of Fed Minutes

Futures Steady Ahead Of Fed Minutes US equity futures were steady, trading in a narrow 15 point range before the release of minutes from the latest Fed meeting which may signal that the pace of rate hikes may slow. S&P500 futures up 0.1% by 7:30 a.m. ET, swinging between gains and losses, after the underlying index closed above 4,000 for the first time since Sept. 12 amid lighter trading before Thursday’s Thanksgiving holiday. Nasdaq 100 futures rose 0.1% after the tech-heavy index climbed 1.5% on Tuesday. Credit Suisse shares plunged below their record closing low after the bank warned of a fourth-quarter loss. Oil fell as the EU discussed imposing a price cap on Russian oil between $65 and $70 a barrel (which Russia will never comply with). The Bloomberg dollar index erased earlier declines. Ten-year US Treasury yields rose by one basis point. In premarket trading, Nordstrom sank 10% after reporting late Tuesday that gross margin for the fiscal third quarter that trailed the average analyst estimate. The department-store operator also reiterated its full-year outlook despite topping analysts’ expectations for adjusted earnings per share and revenue. The stock had ended Tuesday’s regular session at the highest level in three months amid a rally among retail shares. Tesla gained after Citigroup upgraded the electric-vehicle maker to neutral from sell. Here are some other notable premarket movers: Manchester United shares jump 11% in US premarket trading as the owners of the football club, the Glazer family, work with financial advisers on a partial sale of the club or investments including stadium and infrastructure redevelopment. Cryptocurrency-exposed stocks rally anew as Bitcoin extended its rebound into a second session, though investors were keeping an eye out for signs of any contagion from the collapse of Sam Bankman-Fried’s FTX empire. Coinbase +3.6%, Riot Blockchain +3.8%, Marathon Digital +4%, Core Scientific +11% Keep an eye on Medtronic as the stock was cut to neutral from buy at Citi, with the broker saying the medical-equipment group’s quarterly results were the “straw that broke the camel’s back.” MacroGenics shares gained about 4% in postmarket trading on Tuesday after Guggenheim Securities raised its rating on the stock to buy from neutral, citing a stronger balance sheet and near-term clinical data catalysts. The publication of minutes from the Fed’s Nov. 1-2 meeting -- due at 2 p.m. in Washington -- will be studied for how united policymakers were over a higher peak for interest rates than previously signaled in their inflation fight. Some investors anticipate that lower-than-estimated inflation figures could prompt the Fed to temper the size of its rate hikes as early as at next month’s gathering. After an initial shock from Chair Jerome Powell’s comments earlier this month, US equities have turned higher on expectations that lower-than-estimated inflation figures could prompt the Fed to tame the size of its rate hikes. The minutes are “likely to shed some light into how many FOMC members are becoming concerned about policy lags and the impacts of such lags on the US economy,” said Michael Hewson, chief market analyst at CMC Markets UK. “With Fed Chair Powell keen to impress on the market that he wants to limit the scale of advances in the equity markets, it will be interesting to see how many other Fed officials share that view.” The Stoxx Europe 600 crept 0.1% higher to a fresh three-month high as travel and leisure and mining stocks gained. FTSE 100 outperforms peers, adding 0.5%, FTSE MIB lags, dropping 0.3%. Miners, travel and energy are the strongest performing sectors.  Credit Suisse Group shares dropped below their record closing low after the bank warned of a fourth-quarter loss and revealed a record $88 billion outflow. Here are the most notable European movers: Britvic shares rise as much as 4.9% after the UK soft-drinks maker reported full-year sales and earnings that beat estimates. Goodbody said the results bode well for the year ahead. Glencore gains as much as 4.8%, the most since Nov. 4, after Bernstein analysts upgraded the miner to outperform from market perform, saying it is best positioned to take advantage of thermal coal prices amid the gas shortage in Europe. CTS Eventim shares climb as much as 5%, touching the highest since June, after Baader raised the ticket seller to add from reduce, saying it is delivering a “very strong business recovery.” Rotork shares rise as much as 4.5%. The industrial valve maker’s reiterated guidance and in-line results should be welcome, while the margin outlook is also positive, analysts said. Endesa shares drop as much as 6.5%, the most intraday since June, after the Spanish utility gave guidance for lower-than-expected profits for the next two years. Credit Suisse drops as much as 6.2% after the troubled lender said it will book a loss of up to 1.5b Swiss francs for the fourth quarter and reported further outflows of wealth management funds. Vontobel said massive net outflows in wealth management are “deeply concerning.” Siemens Healthineers shares fall as much as 4.5% after it was cut to hold from buy at Jefferies, with the broker seeing limited scope for any upside in the medtech group’s FY23 guidance. EMS-Chemie shares drop as much as 4.7% after the chemicals company warned on profits, citing worsening demand from the automotive sector. European investors digested data showing that private-sector activity in Germany and France -- the euro area’s top two economies -- contracted in November, painting a bleak picture for a region that may already be in recession. A separate survey showed that the UK economy is in recession, with the downturn expected to worsen into 2023. Earlier in the session, Asian stocks advanced as investors awaited the Federal Reserve’s minutes to assess the US rate-hike path while weighing risks from China’s Covid lockdowns and regulatory crackdown.  The MSCI Asia Pacific excluding Japan Index climbed as much as 0.7%, led by gains in tech and energy stocks. Alibaba and other Chinese internet firms were the biggest individual contributors to the measure’s gain.  Equities in Hong Kong snapped a five-day losing streak while those in mainland China closed with a small gain as investors analyze impact of virus curbs. Traders were also cautious following a report that Chinese authorities are planning to impose a fine of more than $1 billion on Jack Ma’s Ant Group. Elsewhere, benchmarks in Australia, Taiwan, South Korea and Indonesia posted moderate gains. Japan’s markets were closed for a holiday.  In a move to fight the spread of Covid, Shanghai will ask new arrivals into the city to stay away from public venues for five days starting from Thursday, as Chinese authorities revert to tougher virus restrictions amid a nationwide surge in infections. “China Covid will continue to create volatility, but it wasn’t completely unexpected and is somewhat priced in,” said Charu Chanana, senior markets strategist at Saxo Capital Markets. “For now, equities are getting a push from weaker yields overnight and expectations that FOMC minutes may be dovish.”  The minutes of the Fed’s November meeting will likely reveal a consensus among policymakers that the central bank needs to slow rate hikes. Investors are also digesting a slew of corporate earnings from Asia. Indian shares rose for a second straight day, helped by gains in banking stocks. A drop in index-heavy Reliance Industries and software firms trimmed gains.  The S&P BSE Sensex gained rose 0.2% to 61,510.58 in Mumbai, while the NSE Nifty 50 Index added 0.1%. Twelve of BSE Ltd.’s 19 sector sub-gauges gained, led by a measure of banking stocks, trading close to a record high after climbing about 21% this year.  Foreign investors have largely been buyers of local shares since end of September. However, the global funds are also taking profit from some of top performers regularly. Australian stocks rose to the highest since June as miners gained. The S&P/ASX 200 index rose 0.7% to close at 7,231.80, extending gains for a second session, following Wall Street higher amid positive earnings and a focus on Federal Reserve minutes due later Wednesday.  Mining and bank shares contributed most to the benchmarks advance.  In New Zealand, the S&P/NZX 50 index fell 0.8% to 11,323.80, as the central bank raised interest rates by a record 75 basis points and signaled further tightening ahead, stepping up its inflation fight even as it forecasts a recession next year In FX, Bloomberg dollar spot index flatlined as G-10 peers moved in narrow ranges. Scandinavian currencies were the best G-10 performers while the yen and the Canadian dollar were the worst. The New Zealand dollar pared gains after earlier advancing by as much 0.7% versus the greenback. The Reserve Bank of New Zealand raised interest rates by 75 basis points, as expected, and said rates will peak at 5.5% instead of 4.1%, and forecasts a recession next year as it seeks to contain inflation. The nation’s 2-year bond yield added 20bps The euro steadied around $1.03. European bond curves flattened and underperformed Treasuries as markets priced in more ECB tightening following RBNZ’s hawkish move. 2-year Bund yields added 7bps while the 10-year yield rose 1bp. Italian bonds outperformed bunds. The pound traded little changed against the US dollar and the euro. Currency traders are focusing on an upcoming Supreme Court ruling on whether the semi-autonomous Scottish government can call a second independence referendum without approval from the UK government In rates, Treasuries were narrowly mixed with the curve continuing to flatten; long-end yields traded slightly richer on the day, front-end and belly cheaper. 10-year Treasury yields were cheaper by 1bp on the day at around 3.765% with bunds trading cheaper by 1bp in the sector; 30-year dipped below 3.81% for first time since Oct. 7, aided by prospect of a big index duration extension at next week’s month- end rebalancing. Bunds underperformed with long-end yields cheaper by over 5bp on the day following PMI numbers and German 30-year bond sale. US session features heavy economic data slate including PMIs and University of Michigan sentiment. The Gilt curve bull flattens with 2s10s narrowing 5.7bps. Peripheral spreads tighten to Germany. In commodities, Bloomberg reported that EU is considering a price cap on Russian oil of $65-70bbl; several EU diplomats reportedly said the proposed level was too high. Subsequently, the G7 is looking at a price cap on Russian seaborne oil in the $65-70/bbl level, via Reuters citing a European official. Crude was capped by the latest oil cap reports ahead of a potential EU Ambassadors discussion; benchmarks gave up their initial modest consolidation and now post downside of near 2.0%. WTI and Brent Jan’23 futures fell to session lows $78.94/bbl and $85.96/bbl vs $81.30/bbl and $88.80/bbl respectively prior to the below source reports. Spot gold fell roughly $4 to trade near $1,737/oz, base metals were pressured by China's latest crackdown measures.. Looking to the day ahead now, and the main data highlight will be the global flash PMIs for November, along with the US weekly initial jobless claims, preliminary durable goods orders for October, and new home sales for October. From central banks, we’ll get the minutes from the FOMC meeting earlier this month, and there’ll be remarks from ECB Vice President de Guindos, the ECB’s de Cos and Centeno, and BoE chief economist Pill. Finally, earnings releases include Deere & Company. Market Snapshot S&P 500 futures up 0.2% to 4,019.00 Brent Futures up 1.1% to $89.29/bbl Gold spot down 0.2% to $1,737.60 U.S. Dollar Index down 0.2% 107.05   Top Overnight News from Bloomberg The ECB should move carefully as it starts shrinking its balance sheet, opting for a “passive” approach to so-called quantitative tightening, according to Vice President Luis de Guindos The EU watered down its latest sanctions proposal for a price cap on Russia’s oil exports by delaying its full implementation and softening key shipping provisions Europe PMI manufacturing and services unexpectedly rose in November, according to S&P Global. While it still firmly indicates a recession in the 19-nation region is underway, it offers some room to think the downturn may be shallower than previously predicted. UK Prime Minister Rishi Sunak suffered a blow to his authority as he struggled to quell Conservative rebellions on multiple policy fronts, and downcast MPs threatened an exodus from Westminster ahead of the next election The UK economy is in recession with the downturn expected to worsen heading into 2023, a key survey warned. S&P Global said its poll of purchasing managers suggests the economy is shrinking at a quarterly rate of 0.4%. Gloom was widespread in November, with services firms seeing new business fall at the fastest pace for almost two years China’s purchases of machines to make computer chips fell 27% last month from a year earlier as the US imposed new, sweeping sanctions to try and derail the country’s chip ambitions A more detailed look at global markets courtesy of Newsquawk Asia-Pac stocks took impetus from the positive handover from Wall St where sentiment was underpinned amid a global risk revival despite the lack of fresh catalysts but with upside capped amid Japan's holiday closure, tighter COVID rules in China and following the RBNZ's historic rate hike. ASX 200 was led by strength in the mining-related industries and with the energy sector front running the advances although the index is limited by underperformance in tech. NZX 50 was the laggard following the RBNZ’s 75bps rate hike and hawkish revisions to its OCR view which it now expects to peak at 5.50% (prev. 4.10% view), while the Committee had considered either a 75bps or 100bps move compared with analysts’ forecasts of either a 50bps or 75bps hike heading into the meeting. Hang Seng and Shanghai Comp were both higher, albeit with price action in the mainland choppy amid COVID concerns after several key cities tightened restrictions and testing requirements. Top Asian News PBoC adviser Wang Yiming sees China's 2023 GDP growth to likely be above 5% if the impact of COVID ends but noted growth will depend on the rollout of support measures and that support measures are needed to lift market confidence and consumption. Wang stated there is limited room for China to cut interest rates and slower Fed hikes in H1 2023 will provide China with more policy room. Shenzhen will require 48-hour COVID tests to access public venues and Chengdu will conduct mass testing on November 23rd-27th, while Tianjin is to conduct complete city testing on November 24th-25th. RBNZ hiked the OCR by 75bps to 4.25%, as expected, while it stated that monetary conditions need to tighten further and that the Committee considered a 75bps or 100bps rate increase. RBNZ said consumer price inflation is too high and the Committee agreed the OCR needs to reach a higher level and sooner than previously indicated. Furthermore, the RBNZ noted near-term inflation expectations have risen and it raised its OCR projections with the OCR expected to peak at 5.5% by December 2023 vs prev. forecast of 4.10%. RBNZ Governor Orr said during the press conference that there will be a shallow recession but noted economic activity remains high and spending is strong, while the RBNZ also noted that they are mature in the tightening cycle and closer to the end than the beginning but added that new shocks are arriving all the time. Beijing is set to maintain COVID curbs until a turning point appears, according to reports via Bloomberg; requests residents do not unnecessarily leave the city. China's cabinet will make adjustments to the RRR at an appropriate time, via Reuters citing State Media; will encourage commercial banks to issue loans to guarantee the delivery of homes. UK Chancellor Hunt and BoE Governor Bailey are to reduce the maximum authorised size of the APF to GBP 871bln (prev. GBP 886bln), according to a BoE statement. Moody's said the UK government set out an ambitious consolidation plan but added that low confidence in the delivery hampers its credibility, according to Reuters. UK Supreme Court rules that Scotland cannot hold an independence referendum without approval from the British government. ECB's de Guindos says it is likely we will see negative Q4 growth rates within the EZ. Upcoming inflation projections will still be high, before starting to slow in Q1-2023; will show core also remains high. Top European News UK Chancellor Hunt and BoE Governor Bailey are to reduce the maximum authorised size of the APF to GBP 871bln (prev. GBP 886bln), according to a BoE statement. Moody's said the UK government set out an ambitious consolidation plan but added that low confidence in the delivery hampers its credibility, according to Reuters. UK Supreme Court rules that Scotland cannot hold an independence referendum without approval from the British government. ECB's de Guindos says it is likely we will see negative Q4 growth rates within the EZ. Upcoming inflation projections will still be high, before starting to slow in Q1-2023; will show core also remains high. Fixed Income UK debt rampant ahead of DMO supply and comments from BoE's Pill, with Gilts posting a fresh 107.00+ post-mini budget collapse high Bunds tag along, but lag BTPs, former flat between 140.59-139.77 parameters and latter nearer top of 119.42-118.31 range US Treasuries trailing with no cash trade overnight and a hectic agenda looming on the eve of Thanksgiving, T-note subdued within a 112-21+/112-12 band Commodities Crude capped by oil cap reports ahead of a potential EU Ambassadors discussion; benchmarks gave up their initial modest consolidation and now post downside of near 2.0%. WTI and Brent Jan’23 futures fell to session lows USD 78.94/bbl and USD 85.96/bbl vs circa. USD 81.30/bbl and USD 88.80/bbl respectively prior to the below source reports. US Private Energy Inventory Data (bbls): Crude -4.8mln (exp. -1.1mln), Cushing -1.4mln, Gasoline -0.4mln (exp. +0.4mln), and Distillate +1.1mln (exp. -0.6mln). OPEC+ delegates said Saudi's denial of a production increase at the December meeting reflected an unease with public discussion of the group's decision-making before an agreement with Russia was struck, according to WSJ. US Treasury Department issued new guidance on the implementation of a price cap policy for Russian crude and said the price cap will be set after a technical exercise is conducted by the price cap coalition. A Treasury official also noted hopes that the EU price cap consultation is concluded relatively soon to allow the coalition to announce a price, while the official added there is no reason to expect Russia will retaliate to a price cap by cutting oil output and warned that violation of price cap could be subject to civil or criminal penalties, according to Reuters. EU is considering a price cap on Russian oil of USD 65-70bbl, according to Bloomberg sources; several EU diplomats reportedly said the proposed level was too high. Subsequently, the G7 is looking at a price cap on Russian seaborne oil in the USD 65-70/bbl level, via Reuters citing a European official. EU Ambassadors will revert to the oil price cap discussion this afternoon in an attempt to agree on legislation for it today, according to WSJ's Norman's understanding. For metals, spot gold and silver are diverging modestly but remain in close proximity to the unchanged mark as sentiment struggles for clear direction alongside a gradual pick-up in the USD, with base metals pressured by China's latest crackdown measures. FX Kiwi flies as RBNZ lives up to hawkish hype, and more, NZD/USD eyes 0.6200 and AUD/NZD cross breaches 1.0800 as Aussie lags vs Buck around 0.6650 in wake of weaker PMIs and more Chinese COVID contagion DXY clings to 107.00 ahead of packed US agenda on the eve of Thanksgiving, Euro faded from 1.0300+ against Greenback after post-EZ PMI pop, but may glean support from hefty option expiries Sterling underpinned around 1.1900 after better than forecast UK flash PMIs and Supreme Court rules against Scotland holding Independence vote independently Yen flags following flirt above 141.00 in Japanese holiday-impacted trade PBoC set USD/CNY mid-point at 7.1281 vs exp. 7.1307 (prev. 7.1667) US Event Calendar 07:00: Nov. MBA Mortgage Applications 2.2%, prior 2.7% 08:30: Oct. Durable Goods Orders, est. 0.4%, prior 0.4%; - Less Transportation, est. 0%, prior -0.5% Cap Goods Ship Nondef Ex Air, est. 0.1%, prior -0.5% Cap Goods Orders Nondef Ex Air, est. 0%, prior -0.4% 08:30: Nov. Initial Jobless Claims, est. 225,000, prior 222,000 Continuing Claims, est. 1.52m, prior 1.51m 09:45: Nov. S&P Global US Manufacturing PM, est. 50.0, prior 50.4 Global US Services PMI, est. 48.0, prior 47.8 Global US Composite PMI, est. 48.0, prior 48.2 10:00: Nov. U. of Mich. Sentiment, est. 55.0, prior 54.7 U. of Mich. Current Conditions, est. 57.8, prior 57.8 U. of Mich. Expectations, est. 52.5, prior 52.7 U. of Mich. 1 Yr Inflation, est. 5.1%, prior 5.1% U. of Mich. 5-10 Yr Inflation, est. 3.0%, prior 3.0% 10:00: Oct. New Home Sales, est. 570,000, prior 603,000 New Home Sales MoM, est. -5.5%, prior -10.9% 14:00: Nov. FOMC Meeting Minutes DB's Jim Reid concludes the overnight wrap Morning from a taxi on the way to the airport and to Frankfurt. Germany are playing their first World Cup game today so I'm not sure anyone will be at the event I'm presenting at! However at least i have an excuse if they are not. Shame I'm not off to Saudi Arabia as they have declared today a national holiday after the shock defeat of the team I have in the office sweepstake, namely Argentina! Markets have been a bit more Saudi than Argentina over the last 24 hours, with bonds and equities moving higher despite the negative mood music that continues to overshadow markets. It perhaps hints at the technicals in the market that our equity strategists have repeatedly highlighted in recent weeks. See their updated thoughts here on how long the bear market rally might last. In fact, not only did the Covid situation in China take a fresh turn for the worse yesterday, but we also had a fresh round of threats about a cut-off in the remaining flow of Russian gas to Europe. Both of these could have significant ramifications for the global economy more broadly, since China plays a critical role in supply chains that could have ramifications for global inflation in the event of further lockdowns, whilst Europe is already facing a critical energy situation this winter. Our German economics team did though acknowledge the improved outlook of late in a note here last night but they still believe a recession is baked in the sand with a notable real incomes squeeze. The flash PMIs today will be an important barometer in terms of how Europe is fairing. When it comes to the latest developments in China, restrictions ramped up further yesterday against the backdrop of steadily rising case numbers. Shanghai said that new arrivals would not be allowed to enter public venues for the first five days, and would also be required to take three PCR tests within three days of their arrival. Meanwhile, Beijing said that residents would need a negative PCR test in the previous 48 hours to enter public venues and take buses, and Guangzhou said they would be extending Covid restrictions in parts of Haizhu district until the end of November 27. China-exposed stocks continued to struggle on the back of this. For instance, the NASDAQ’s Golden Dragon China index fell a further -1.43% yesterday, thus bringing its losses over the last 3 sessions to -7.77%, albeit +26.13% of the lows on October 24 after the reopening speculation started to build. That index contains US-listed stocks for whom most of their business is done in China, so offers a barometer of sentiment outside of trading hours in Asia. Overnight, Chinese equities themselves are trading in negative territory with the Shanghai Composite (-0.38%) and the CSI (-0.36%) edging lower as the daily Covid-19 infections continue to climb. As we said yesterday it can be possible for China to tighten restrictions quite firmly in the near term but loosen them more sustainably by the spring. So its a difficult one to trade but I suspect what they do from spring onwards should be the most important. Indeed, the negative developments in China failed to dampen risk appetite more broadly however, and the major equity indices climbed on both sides of the Atlantic. By the close of trade, the S&P 500 had advanced +1.36%, and Europe’s STOXX 600 even hit a 3-month high thanks to a +0.73% advance. To be fair in Europe, sentiment was boosted by some better-than-expected consumer confidence data, with the European Commission’s number for the Euro Area hitting a 5-month high of -23.9 (vs. -26.0 expected). Oil prices also benefited from the risk-on moves, with Brent crude (+1.03%) ending a run of 4 consecutive declines to close at $88.35/bbl. It dipped to $82 late on Monday as OPEC+ cuts were speculated upon before a subsequent Saudi denial. Speaking of energy, the European Commission outlined their proposals for an emergency break on natural gas prices yesterday. But the cap was set at €275 per megawatt-hour (more than twice the current level), and would only come into force if futures on the front-month TTF exceed that for two weeks, and if TTF prices are also €58 higher than the LNG reference price for 10 consecutive trading days in the last two weeks. So even during the summer spike when gas prices peaked above the €275 level, the cap wouldn’t have come into force since prices didn’t remain there for two weeks. The measures still require approval from EU member states, and EU energy ministers are set to discuss the proposal in Brussels tomorrow. Those proposals from the EU came as Gazprom threatened to cut gas flows to Europe via Ukraine yesterday, with Gazprom saying that Ukraine had taken gas that was meant for Moldova. In response, they warned they may limit volumes from November 28 based on the amount of gas not getting to Moldova. But the concern for the rest of Europe will be that previous threats from Russia to reduce volumes by a small amount end up resulting in much larger reductions, and this could be the start of a total shutdown that cuts off the last remaining pipeline to western Europe. In response, natural gas futures ended the day up by +7.21% at €124 per megawatt-hour, marking their third consecutive daily increase. Adding to the downbeat backdrop, the US 2s10s curve pressed deeper into inversion territory for an 8th consecutive session yesterday, hitting a post-1981 low of -76.27bps. That trend wasn’t just confined to the US however, with the German 2s10s curve similarly hitting a post-2009 low of -13.8bps. That came as policymakers continued to strike a firm tone on the need to rein inflation back in, with Cleveland Fed President Mester saying that “restoring price stability remains the number one focus of the FOMC”. The November FOMC Minutes are due today. The big takeaway from the meeting was that the Fed was ready to break their streak of +75bp hikes by stepping down to a +50bp hike in December, a message well-received by the market in subsequent weeks, with +52.0bps now priced for the December meeting. While stale in that regard, the Chair also paired the stepdown to +50bp hikes with a higher terminal rate, so we’ll be looking for any indication that the rest of the Committee agrees, and if so, how much higher terminal may need to go to restrict financial conditions adequately. Over in Europe, the debate also continued on whether the ECB should raise rates by 50bps or 75bps as well. Austria’s Holzmann echoed his hawkish remarks from the previous day, saying that he was in favour of a 75bps hike based on the current data. But Bundesbank President Nagel said “it would be too hasty to commit to how big the next rate hike could be”. Finally, Lithuania’s Simkus said that “50 basis points is a must”, and that since “we still see very strong inflation pressures and we need to dampen them as soon as possible to prevent a de-anchoring of inflation expectations. 75 is also possible.” By the close of trade, yields on 10yr Treasuries (-7.1bps), bunds (-1.3bps) and OATs (-1.5bps) had all moved lower. Outside of China, Asian equity markets are mostly trading higher this morning following the overnight rally on Wall Street. As I type, the Hang Seng (+0.42%) is trading higher, recovering from its earlier losses with the KOSPI (+0.46%) also in the green. Elsewhere, markets in Japan are closed for a holiday.US stock futures tied to the S&P 500 (-0.07%) are little changed. A big surprise came from the Reserve Bank of New Zealand (RBNZ) as the central bank delivered a 75bps hike, its biggest rate hike on record as it struggles to contain rising inflation. The Monetary Policy Committee (MPC) increased the Official Cash Rate (OCR) from 3.5% to 4.25% while signalling further tightening ahead. At the same time, it also warned that economic growth will slow in the near-term due to the shock of rising interest rates and elevated inflation. Shortly after the decision, yields on the policy-sensitive 2yr bond moved sharply higher (+26 bps), trading at 4.58% with the 10yr yields briefing touching 4.27% before retracing back to 4.20% as we go to print. Separately we have data from Australia showing that the preliminary PMI indices all weakened in November. The S&P Global manufacturing PMI dropped to 51.5 from the prior month’s level of 52.7 but more importantly the services sector PMI contracted further to a weak looking 47.2 following a level of 49.3 in October. There wasn’t much data of note yesterday, although the Richmond Fed’s manufacturing index for November came in at -9 (vs. –8 expected). Otherwise, the OECD released their latest economic outlook, projecting global growth of just +2.2% in 2023 and +2.7% in 2024. If that +2.2% number is realised, that would make 2023 the third-worst year of the 21st century so far for global growth, behind only 2020 with the pandemic and 2009 with the GFC. To the day ahead now, and the main data highlight will be the global flash PMIs for November, along with the US weekly initial jobless claims, preliminary durable goods orders for October, and new home sales for October. From central banks, we’ll get the minutes from the FOMC meeting earlier this month, and there’ll be remarks from ECB Vice President de Guindos, the ECB’s de Cos and Centeno, and BoE chief economist Pill. Finally, earnings releases include Deere & Company. Tyler Durden Wed, 11/23/2022 - 08:04.....»»

Category: worldSource: nytNov 23rd, 2022

Bucking the trend: The 10 US cities where incomes are shrinking the fastest

Despite a rise in nationwide per capita income, these cities saw a drop in 2017.        Despite a rise in nationwide per capita income, these cities saw a drop in 2017.       .....»»

Category: topSource: usatodayJul 29th, 2019