When millions of Americans rethought their living situations during the pandemic, their moves changed the geography of where money is made in the United States.
Why it matters: A new analysis of tax data by the Economic Innovation Group, shared first with Axios, quantifies the reasons some of America's biggest cities are struggling to rebuild their economies post-pandemic.
1- It also shows a surge in income that arrived in many rural and exurban places and in popular vacation destinations.
2- Not only did residents leave the biggest cities, but those who left disproportionately had high incomes, meaning the hit to those local economies was larger than migration numbers alone would imply. Read more...
