The Story Unfolds

Slowly, very slowly, the story of the Great Recession is beginning to unfold. It is happening slowly because it takes years for demographic statistics to reflect economic trauma. Think about it. First there is the event, then the demographic reaction, which is followed by data collection, and finally the analysis. We have served our time now, and the stories are beginning to be told. Today's New York Times reports (see Economy Alters How Americans Are Moving) on an analysis of migration data by the Carsey Institute of the University of New Hampshire. The research shows "drastic" change in Americans' migration patterns since the Great Recession, with sharply fewer people moving to the Sunbelt. Many more stories about the profound changes wrought by the Great Recession will follow in the years ahead.