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California, home to a rich pool of talent in major industries such as film and tech, has lost thousands of workers to states that have a lower cost of living and other perks, according to a recent report.
The National Association of Realtors®, which analyzed U.S. census data from the third quarter of 2023, found nearly 87,000 workers flocked from California to other states for new jobs, while the Golden State gained only 69,000 new workers. The group published its findings last month.
Some of the popular destinations for California job switchers: Texas, Arizona, Washington and Nevada.
Even though California's job market remains strong, high costs of living and a lack of affordable housing, especially in cities such as Los Angeles and San Francisco, play a role in why people accept jobs elsewhere, said Nadia Evangelou, a senior economist for the Realtors® association.
"The lack of affordable housing doesn't just impact homebuyers. It also affects the state's ability to retain talent," she said. "This trend is concerning because it reflects the economic strain that high housing costs place on professionals, even those with stable incomes."