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Moody's Talks - Inside Economics
Philly Thrives, More Immigrants Arrive
Apr 27, 2024
Economists Adam Kamins and Laura Ratz discuss domestic migration trends, Philly's rise as a migration hotspot, threats to Fed independence, and immigration's impact on population growth and economic forecast.
01:12:28
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Quick takeaways
- Shift in domestic migration patterns towards urban living for lifestyle reasons rather than work-centric locations.
- South Carolina experiencing a surge in migration, attracting a diverse mix of residents from retirees to young professionals.
Deep dives
Domestic Migration Trends
Domestic migration patterns have shown a decline in movement, especially from the Northeast and Midwest to the South and Mountain West before and during the pandemic. However, recent data indicates a slowdown in movement to these regions, with the Southeast still attracting residents steadily. Large urban centers have experienced a reduction in net migration as remote work dynamics shift, but the appeal of city living is drawing back younger adults seeking amenities and social lifestyles.
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