The Great Covid Business Migration – Wall Street Journal

A new report from the Bureau of Labor Statistics (BLS) shows that small businesses also left town. New York led in net business out-migration (487), followed by California (456), Illinois (208), Maryland (50) and Pennsylvania (33). One result is turmoil in commercial real estate in New York City, San Francisco and Chicago. Another is persistent higher unemployment in California (4.5%), Illinois (4.2%) and New York (4%), compared to a national average of 3.7% and 2.6% in Florida.

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