American baby boomers are on the move, fueling hope for the larger economy, according to new findings from the U.S. Census Bureau. More than 7 million Americans relocated from one state to the other last year.
The number of Americans ages 35-54 who moved last year rose 9.8 percent, while those in the 18-34 age group declined 0.8 percent. At 20.8 percent, the number of migrating young people still tops all other age groups.
Analysts credit an improving real estate sector and stock market for propelling older Americans to take a new job or to retire. The biggest population losers were New York and Massachusetts and the biggest gainers were western and southern states.
It might surprise some to know that migration overall occurs much less frequently now than in decades before. From 1945 until the 1970s, one in five American's relocated each year, while mobility today is now down to 11.7%.