Economic impact of moving in the United States
There are many industries that are very important. The moving industry has a huge influence on the way the economy works. Not just in the monetary sense, but it also helps people get anywhere they need to be in the US. That’s why we want to talk about the economic impact of moving in the United States and its effects. And who better to do it than we at the Best Cross Country Movers with our expertise? Here are just some of the details of the moving industry that are good to have in mind.
What is the overall economic impact of moving in the United States?
The moving industry is a huge part of the economy. There are many details and factors that are important when it comes to moving and not just taking people, families, and companies from point A to point B. From moving to storage services there are many things to think about. When you consider that moving has 32 billion $ of direct and 92 billion $ of direct and indirect impacts on the economy, you can be sure that the moving industry is crucial when it comes to the US. And as an average American moves almost 12 times during their life, it’s a very important stat. That itself makes it a very important part of the overall economic structure in the US. With the market being worth around 19 billion$ and growing, it will be an important part of the overall economy.
Every year the moving industry in the US experiences a big growth
Almost every year, around 30 million people move in the US. That’s a huge potential and with so many people moving it has great importance to the overall US economy. Even if you can find information that people move less than for example 50 years ago, there’s still a 3% growth comparing 2022. and 2021. Be it residential or commercial moving, there are hundreds of moves happening every day. And with many factors changing and tweaking the economics and moving, you can expect that trend to only stay up.
The economic impact of moving in the United States is best evaluated by the number of jobs the industry creates
If there’s a big industry, you can be sure that it creates a lot of benefits for the community and area they operate in. One major economic impact of moving in the United States is that it enables many people to work and creates jobs. To be precise, in the US, around 120,000 jobs are linked to the moving industry. From packing services to heavy lifting and moving there are many tasks that generate a huge number of jobs. From companies that operate with 5 workers in their local area to huge moving companies with thousands of employees, all of them create a certain climate when it comes to the economy too. For that reason, the importance of moving companies and moving overall is crucial.
Who has been moving the most in the US and what are the main conclusions from that information?
It’s always interesting to look at some interesting facts. That’s because it can give you some necessary and crucial facts about how and why people are moving. When you look at that information it gives you important insight both on moving, but also the economic impact. Of course, there are more residential moves than commercial ones as the sheer number of them is overwhelming. People have been moving in comparison to companies in about a 9 to 1 ratio. On top of that, the numbers have changed when it comes to who is moving. Now the majority of people relocating come from the under-35 population.
What impact do local moves have on the overall economy in the US?
Even if it’s the shortest of moves it has one of the biggest impacts. The economic impact of moving in the United States can’t be fully explained without mentioning local moving. With around 60% of relocations being local moves within the same city, county, or area, it’s only logical that it has such a big impact. Of course, there are many reasons why people are moving like that, and we’ll explain them in more detail further. However, by their number itself, they generate so many profits for the moving industry and economy overall. Especially as it’s the number one task that keeps the smaller moving companies going. You can easily say that local moving is the main factor when it comes to the moving industry and keeps its economy in great shape.
Long-distance moves are not something to overlook when you look at moving and its economic impact
What part of the industry do long-distance moves have and what is their role? As around 22% of people and companies that move have done so to a longer distance. Usually, that means that subjects have moved within the same state. With a move around 500-1,000 miles and more, you can be sure that it changes the finances and economic situation of that person greatly. These relocations are usually to the busiest centers and cities in the state. Especially as they ensure a person is in the right place to lead a great lifestyle. With business opportunities and many other crucial details, a long-distance move is always a good idea. And with its positive impacts on the economy, it’s a great option however you look at it.
Interstate relocations will be important when you look at the economic impact of moving in the United States
The biggest and most difficult relocations are the interstate ones. However, they are the most lucrative ones when it comes to moving companies. Every year around 18% of people that move will relocate to a new state. Of course, with the help of the best cross-country movers New York even that task will be simple. On top of that, it’s going to be affordable too with them on the task. There are many factors to keep in mind when analyzing an interstate move. However, with an average out-of-state relocation costing about 5,000$, it’s only normal just how big of an impact it has. Be it that you’re looking at the moving company or their client this is a big task and changes a lot. Whatever the case, the economic impact of moving in the United States is easier to grasp with such moves in mind.
How much do the reasons people are moving impact the economy of moving?
There are always people that move from one place to another. However, the reason why they’re moving can at times be more important than the fact that they’re relocating. That can provide you with true insight into the overall economy in the US, and where people want to move. For example, the cross-country movers Arizona are usually moving people to more affordable states. but not only money and the economy are the main reasons. From small to big, there are a plethora of reasons why people and companies decide to move all over the US. Let’s check out the main reasons why people and companies decide to move, and what economic impact of moving in the United States can we conclude from these examples.
The departure from the bigger cities is something that is happening more and more
One of the things that will show you the state of the economy is the pattern of people moving. More and more in the last few years, people have been moving from the big cities to the smaller areas. This wasn’t always the case as it was the bigger cities that were mostly the target. Even our long-distance movers San Francisco have been moving more people out than to the city. There are many factors that impact such a big decision. However, there’s no denying that it leaves an impact on the moving industry and the economy overall. With the migration of people to smaller areas of the states, it’s necessary for businesses and companies to follow. If this trend endures for the next few years or even decades, it will be interesting to see its results. Ultimately, more people decide to leave the big city and leave it for simpler areas.
You can’t think about the economic impact of moving in the United States without cheaper housing
Without a doubt, a detail that pairs both moving and economy is the fact that the housing market is very unpredictable. That’s why more and more people choose to relocate to a location where they can have affordable housing. That’s why you see the interstate movers Los Angeles moving more people out than ever. The rent and housing prices in the area have risen to unbearable amounts, and the number of people that are looking for more affordable housing options has been rising for a while. For that reason, it has an economic impact on moving in the United States.
Cost of living is an important detail when looking at people moving for economic reasons
To continue with the financial reasons, the cost of living has been the main motivator for people to relocate. That’s why the cheaper states will be very attractive for people and companies to go to. For that reason, you will see our cross-country movers Mississippi helping with commercial and residential relocations. When it comes to this reasoning for relocation, you can perfectly see just how much the economy impacts the moving industry. That’s why finances have been a very important factor in the last few years and the trend will surely continue. This act shows you just how much the moving industry and the US economy are really intertwined.
Even a shorter commute can be one of the factors to improve the economical situation for many people
For many people, the saying- Time is money – rings true. That’s why many opt to move closer to their job. You can be sure that for a good percentage of people that are moving, the closer their work and office are the better. Especially in places like Texas, our interstate movers Austin TX have their hands full of work. As a city that has many company headquarters, it’s only logical for people to gravitate to it. With around 20% of people moving stating that moving closer to their work was their main reason for relocating, it’s only normal that it plays a part in the economic impact of moving in the United States. It shapes both the moving industry and the lives of people that are moving and the areas they are moving to.
The pandemic has left its mark on the economy and the moving industry too
You can’t talk about moving or the economy without mentioning the COVID-19 pandemic. It has such a big impact globally and all over the United States. Nothing was able to evade the impact it had on people and their choices. That’s why people chose to relocate to less crowded areas. For example, the best cross-country movers Oklahoma had a lot of work during the last few years. More people than ever have decided to go to areas that offer more space and still have a lot of benefits to offer. On top of that, the moving company had a big blow which impacted their economy and the overall economy. Thankfully, everything seems to go back to normal and the moving industry is ready to adapt to the challenges that arise from any potential problems.
The way people move also had an impact on the economics of moving around the US
When moving, it’s important to look at how the people are doing so. Every type of move has its own ups and downs. That’s why there are several options when it comes to the moving industry where you can relocate successfully, depending on your finances, and other details. Are you someone who likes doing the work themselves? Will a move that is completely taken care of by professionals be something that will perfectly fit your needs? Is a middle ground between the two going to be the right option for you? One thing is certain, the economic impact of moving in the United States is felt with whatever choice you make. Let’s take a look at what your options are and how impactful they can be.
A DIY move comes with its pros and cons, but has benefits to the people’s finances
Everyone likes doing everything on their own. However, a DIY move is not always the best option. Around 20% of people would like to do all the work on their own, without any rentals like trucks or services. And when you consider that around 60% of people are moving locally, that’s not such a big number. However, the longer the distance, the number of people that want to attempt a relocation on their own will rapidly drop. From the perspective of movers, a DIY is a bad option as the economic and financial impact isn’t there. On the other hand, people that are moving will save a lot of money. Of course, a DIY move will have its purpose and use, but be wise to know when to pick it as an option.
The economic impact of moving in the United States also includes looking at hybrid moves
Around 45% of people like to have a little mix of experts and them doing some work. As the biggest percentage of people, you can see just why it’s considered when looking at the economic impact of moving in the United States. Be it that people do just the packing and unpacking, do the heavy lifting, or rent trucks, these hybrid moves will have their benefits for both the industry and people using the moving services. Of course, similarly to DIY moves, the bigger and tougher the move, the needle will move to professional assistance. However, hybrid moves have a huge part in both the moving industry and the economy.
Full-service moving is an expensive but very convenient option when relocating
There’s no better feeling than when the movers take care of everything from start to finish. That’s why around 35% of people choose a full-service moving company to take care of their relocation. It’s obviously the most expensive option from the client’s perspective. However, it offers amazing benefits that are worth every dollar. On top of that, these types of relocations are what make the moving industry go around. Such relocations require a company to always have employees ready to work. For that reason, the impact on the overall US economy isn’t small.
What are the top moving destinations in the US when it comes to relocation for economic reasons?
If you look at the economics of moving and its impact, you want to look at some of the states that have the most activity. That’s very important as it gives you some crucial information and offers you the right overview of the economics and the moving industry. Every state has its own benefits that will attract a lot of people to move to it. On top of that, there are destinations that have been popular to relocate to for years if not decades. Let’s take a look at some of the US states that are popular among the people that are moving and that have the biggest impact on the US economy.
The state of Montana has seen many people move to it in the last years
The economic impact of moving in the United States is best seen in the states where people are mostly moving to. And Montana is surely one of them as almost 3 people move to it on 1 person that leaves it. That not only makes the best cross-country movers Montana work hard but also creates many opportunities that come with such actions. The economy of Montana grew about 7% in comparison to last year, and we’re sure that it has to do with the trend of more and more people moving to Montana. And with work opportunities in the recent years, Montana’s unemployment rate is as low as 2.3%. We’re sure that the number of people moving there has a lot to do with it.
Maine has a big surplus of people when you compare the numbers between in and out
Maine is maybe not one of the biggest states in the US, but it has a huge number of people moving to it. For one person that leaves Montana, two will move to it. For that reason, it’s easy to understand the economic impact of moving in the United States in the example of Maine. Even our interstate movers Maine can clarify it as they have been relocating a lot of people there lately. In the last few years, that influx has been the culprit for getting the unemployment rate from around 9% to 4.5% in the state of Maine. On top of that, this is also responsible for the growth of around 9% when it comes to the overall economy of Maine.
The economic impact of moving in the United States is something easier to look at with Florida in mind
Florida is one of the most popular states for people to move to for many reasons, that not only include financial and economic. However, it’s also an important center in the US that keeps the economy stable and growing. That’s why the cross-country movers Florida are always ready to help people and companies move to the state. As it attracts a lot of business, it’s not strange for people and professionals to follow. Especially as there’s no state income tax, it’s a place for everyone who likes having full control of their money. As the fourth largest economy in the US, you can’t overlook Florida when you look at any industry, especially the moving industry.
Colorado is one of the states that people look forward to relocating to as it has a lot of benefits
You can’t overlook Colorado if you want to have a clear and precise look at the US economy. That’s why so many people choose to move to it. It has a big variety of industries that attract a lot of businesses and with them also people that want to move. Of course, for them, the best cross-country movers Colorado are ready to serve. The current unemployment rate is around 3.6% which attracts people looking for a job and young professionals to the state. And when it comes to the moving industry, Colorado is very important as there are thousands of people moving in and out every year.
Texas is a state with plenty of benefits that thousands of people are moving to every year
One of the states that has the biggest economic impact of Moving in the United States needs to be Texas. The lone star state is among the most popular destinations to move to for people all across the US. Similar to Florida, it has no state income tax, so it attracts a lot of people based on that fact. But you can be sure that our long-distance movers Texas have noted several other reasons for the migration to the state. The sheer amount of people moving there and companies working in Texas will make it an important place for the moving industry for years or even decades to come.
When it comes to the economic impact of moving in the United States you want to take a look at Utah
Utah is the state that is always on the top of every list when it comes to the economy in the US. That’s because it has a very diverse economy which makes it stand out from many others, and also provides it with the necessary options that can be helpful for many people moving here. Of course, the best cross-country movers Utah can testify the importance of the moving industry in the state. As many industries operate in the area perfectly, it’s only logical for the moving industry to have an impact on Utah’s economy. And with the trend of more people moving to it, that trend seems like it’s here to stay.
Idaho is an important state in the US when it comes to both moving and economics
If you’re an IT person or want to work in the technology sector, Idaho is the right state for you. Moving there will offer you the necessary opportunities as the state relies on the two industries heavily. That’s why more and more people that work in these industries choose Idaho as their new destination. That means always a lot of work for the interstate movers Idaho as the moving patterns when it comes to this state have shifted a lot. This phenomenon has pushed Idaho’s unemployment rate to a low of 2.5%.
Vermont has become a more popular place to move for both people and companies
The economic impact of moving in the United States is felt strongly in Vermont. Especially as it’s a state that strongly relies on the service industry like moving. On top of that, it’s also a very popular state to move to when you have its size in mind. That’s why our best cross-country movers Vermont will move two people to the state for one person that they move out. Even if it’s a smaller state, it has an impressive 2.2% unemployment rate. And the number of people moving to it surely helps that fact as the economy of Vermont keeps growing.
The state of California stands out when you look at the economic impact of moving in the United States
There’s no talking about the US and moving and the economy without including one of the most important states for both subjects. California offers a lot and is one of the most popular destinations to move to. As the largest economy in the US, the moving industry has strong roots in Florida. However, our interstate movers California are just an image of how California works and what impact it has on the overall economy. With thousands of moves every move, it’s among the top states when it comes to both moves out and in. As a state with plenty of opportunities, it isn’t a big surprise to have California on this list.
Massachusetts is a state that has a lot of benefits when it comes to the economics
With around 3% growth in the overall economy and job opportunities, Massachusetts has become a state that you can’t ignore. And you can be sure that the moving industry had its impact on that growth. With a lot of people choosing to move there from neighboring states, it’s expected to find itself on this list. And with the cross-country movers Massachusetts, the transition will be much easier for anyone moving here. With the unemployment rate around 3.7%, the trend becomes better and better with more people relocating to it.
Just how many companies are in the US to help you out with your relocation?
It’s always easier to move when you have experts taking care of everything. For that reason, it’s always good to know just how many companies you can truly trust. According to the latest information, there are about 7,000 moving companies around the US. This is a pretty big number. However, it’s important to trust a BBB-approved moving company that has all the necessary licenses and insurance. Only by doing so can you truly ensure that you’ll have a smooth and easy relocation process. With a competent moving company, anywhere you relocate, the whole process will be easy.
With the right information, it’s always easier to move. And by moving and the economy being very close together and linked up, it’s always easy to get to relocating with all that help. Having all those little details in mind can be very helpful when choosing how and where to move. The moving industry has a lot of influence on the US economy. For that reason, we’re sure that it will be easy for you to move wherever you go. Especially when you consider just how your decision to move impacts the overall economy.