Fleeing New Yorkers resulted in an estimated $34 billion in lost income -study
December 15, 2020 | Jonnelle Marte | Reuters
Millions of people have moved out of New York City during the pandemic, but at the same time, millions of others with lower incomes have taken their place, according to a study released on Tuesday.
All told, a net 70,000 people left the metropolitan region this year, resulting in roughly $34 billion in lost income, according to estimates from Unacast here, a location analytics company.
About 3.57 million people left New York City this year between Jan. 1 and Dec. 7, according to Unacast, which analyzed anonymized cell phone location data. Some 3.5 million people earning lower average incomes moved into the city during that same period, the report showed.
