Why millionaires are bolting from New Jersey (like everyone else)

January 22, 2019

So long and thanks for everything!

New data from the financial research firm Wealth-X finds more than 5,700 millionaires packed their bags and left the New Jersey-New York City area over the past year.

According James Hughes, a Rutgers University economist, this is not surprising at all because U.S. Census data tells us New Jersey is losing at least a thousand people a week — a net number of the total number of individuals moving out vs. the number of new state residents — and this group includes a significant number of high-wage earners.

NJ1015.com, January 21, 2019

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