California lost 190K residents last year

CNBC's Jane Wells reports on California losing a generation of wage earners on "Squawk Alley."

https://bbs.bizedu.net/viewtopic.php?f=4&t=1218

economy: the system by which a country’s money and goods are produced and used, or a country considered in this way 经济体、区域
grand: a thousand pounds or dollars 一千美金
condo: =condominium, 分户出售公寓大厦，独立的公寓房
geocentric: geo + centric 以某地区为中心的

Welcome back to Squawk Alley. The nation's largest economy, California, is losing a generation of wage earners. Jane Wells joins us now from Los Angeles to explain where they're going, Jane.

Hi Mike. Yeah, it's not just large companies like Charles Schwab leaving California, the census numbers do not lie. All kinds of young professionals, some of them making decent salaries, are leaving too. Take for example, 30-year-old Sydney Mulkey. She was an educator in Oakland, making about 58 grand, got moved to Portland, Oregon, got the same job at 70 grand, allowing her to buy a brand-new condo, something that never would've happened in California.

At one point, I was working three jobs, and I was just really tired. So, that was kind of the last straw.

Small business owners Danielle and Scott Fortier moved from LA to Nashville because they couldn't afford to save for retirement or their kids' college funds, even though Scott was working 80 hours a week at his own business. In LA, look at this, they owned a 3,100-square-foot house on a small lot. In Tennessee, they own a larger house on seven acres with the building to run their business out of, no state income taxes, property taxes a third of what they were in California, health insurance costs cut nearly in half.

We've been here about six months, and in that six months, we've already had six friends of ours, six couples, relocate to the same area also.

People have this image of all these old people who are frustrated leaving. But actually the ones who are leaving are are family-age people. People 30 to 54, that group, that's the group that's leaving.

And that's Joel Kotkin at Chapman University. Now, while millennials are leaving California, fewer are moving in, Kotkin says that could really eventually impact California's sort of entrenched culture of innovation and dreamers, and that could hurt the nation. Besides the fact that we're all moving to your state and maybe driving up your prices. Well, it's easy for people to leave, guys, this may sound geocentric, it's really difficult to recreate that culture somewhere else from scratch.

Back to you.

https://www.youtube.com/watch?v=zXh_ylywCpM