The Great Reshuffling: Remote Work's Impact on Population Migration, Local Economies, and Business Growth

It comes as no surprise to me, people, when given a choice, choose to live out of the city and work from their kitchen and or basement.

I would not be surprised to see company-owned coffee shops/meeting places pop up all over the fruited plain, closer to their remote employees.  Instead of workers coming to the office three days a week, the company comes to them, 7-5, seven days a week.  Discounts for employees, quiet rooms, and meeting places with the latest remote technology.  

Coming to a Village near you.

Executive Summary:

1. Remote work during the pandemic has led to significant population migration from traditional business hubs in New York and California to Southern and Midwestern states that offer a lower cost of living, such as South Dakota and West Virginia. This has resulted in positive economic impacts for local businesses in these states.
2. Yelp, which transitioned to remote work during the pandemic, has seen a similar geographical spread of its employees, with its U.S. workforce now living in over 1,300 cities across the U.S., Canada, and Europe.
3. The trend of remote work has positively impacted employee recruitment and satisfaction, with Yelp reporting an increase in the number of applicants per job posting and a shortened time to hire. Additionally, Yelp employees report feeling connected to their teams and able to effectively meet work goals in a distributed work environment.

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The COVID-19 pandemic has caused a great shift in the American workplace, with many companies adopting remote work and some making it permanent, such as Yelp. This transition has enabled employees to relocate their families, which has had ripple effects on local economies across the United States. Yelp analyzed data on search locations on its platform and found significant population migration from Western and Northeastern states to Southern and Midwestern areas, driven by the lower cost of living in those regions.

States that experienced an increase in the share of search locations, such as South Dakota, North Dakota, West Virginia, Wyoming, and Mississippi, saw a higher average increase in new business openings across nearly all categories in 2022 compared to 2019. New home and local services businesses have shown to be the backbone of local economies as new business openings surpass pre-pandemic levels. While shopping, bars and nightlife, active life, and restaurant businesses have not yet fully bounced back to pre-pandemic levels.

"By one measure, technological singularity could be as few as seven years away. That prompted us to reach out to subject-matter experts to find out more about what exactly singularity is, how close we are, and if we should start taking the early 2010s Doomsday Preppers reality show more seriously."

Yelp also found similar patterns among its workforce, which transitioned to remote work at the onset of the pandemic. Yelp's U.S. workforce now lives in more than 1,300 cities across the U.S., Canada, and Europe. Yelp's commitment to remote work has allowed the company to access a larger talent pool across the U.S. and internationally, and the company has seen a positive impact on employee recruitment and satisfaction, productivity, and revenue growth.

As people reportedly flocked south, Yelp data show increases in the share of search locations in Texas cities, particularly San Antonio and Austin, and dozens of popular Florida cities also saw large increases. 

Remote workers gained back the time they would have otherwise spent commuting to the office, and Yelp user data shows consumer interest in a wide range of hobbies – from active sports to arts and leisure activities – has increased in 2022 when compared to both 2019 and 2021.

The shift to remote work has caused significant changes in population migration and local economies across the United States. 

As flexible work arrangements become the norm for many U.S. industries, people will continue to settle down in states and cities that provide a more affordable cost of living and less population congestion, ultimately driving new opportunities for local businesses and entrepreneurs. It is essential for businesses to adapt and cater to this changing landscape, and the office technology industry must take note of these trends and adjust its strategies accordingly to remain competitive.

Inspiration, here.

 

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Tweet: "Remote work is driving a great reshuffling across the U.S., with significant population migration from traditional business hubs to states that provide a lower cost of living. Learn how this trend is impacting local economies and businesses. #remotework #localbusiness #economicimpact"

Intro Paragraph for LinkedIn Post: The pandemic has transformed the American workplace, with many companies turning to remote work, and this shift has given employees new flexibility in deciding where they could live. Yelp's recent report shows how this transition to remote work has created ripple effects that have reshaped local economies and resulted in significant population migration from Western and Northeastern states to Southern and Midwestern areas. In this post, we will discuss the impact of remote work on local businesses and economies, and what this means for the future of work in America.

List of Keywords: Remote work, local businesses, local economies, population migration, pandemic, flexibility, traditional business hubs, cost of living, future of work

Search Question: What is the impact of remote work on local businesses and economies?

Suggestion for an Image Prompt: An image of a map of the U.S. with arrows pointing in different directions to represent the significant population migration from Western and Northeastern states to Southern and Midwestern areas.

A suggestion for an image prompt could be a map of the United States with arrows pointing in the direction of the population migration indicated in the article, highlighting the states that saw the largest increase in the share of search locations, such as South Dakota, North Dakota, West Virginia, Wyoming, and Mississippi. The map could also include visual elements representing the categories driving business openings in these states, such as home services and beauty services.

Song: "On Top of the World" by Imagine Dragons. The upbeat and positive tone of the song fits well with the idea of people relocating to new places and feeling a sense of excitement and possibility.