But the Golden State is still losing more workers than it’s gaining, according to an October report from the National Association of Realtors that used U.S. Census Bureau data as of third-quarter 2023. California lost almost 87,000 professionals in 2023, compared with the approximately 69,000 that entered the state in the same time period. Study authors blame the state’s high housing costs, coupled with the lower state income taxes that many other nearby states offer those hunting for other job opportunities.
“California’s high state income taxes push workers to states with more favorable tax policies,” Nadia Evangelou, a senior economist for the National Association of Realtors, told SFGATE. “The lack of affordable housing doesn’t just impact home buyers, it also affects the state’s ability to retain talent.”