Why more Americans than ever are starting their own businesses: Workers are quitting their jobs to become their own bosses.
According to data from the Bureau of Labor Statistics, quits totaled 4.5 million in November, a record high, and have been trending upward since April 2020.
Below is a table of quits by state. What this gives you is a snapshot of regions that are seeing a rising tide of entrepreneurship and new business development.
California leads the nation with 3.7 million quits — we can imagine how many of these are new tech startups. Same with Texas, where many tech firms have been people relocating for more space and lower taxes, especially software, PC and semiconductor businesses. Georgia, North Carolina, and Florida have all sorts of new business development.
Places like New York and Chicago, with their heavy corporate concentration, are now seeing lots of furloughed/laid-off workers launching their own businesses.
|State||Quit Rate||Total Quits|
|District Of Columbia||1.9%||140,000|
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Malls adding apartments to offset dwindling numbers of shoppers:
Retail centers across the nation are being revamped with a mix of residential, office and hotels as older suburban malls struggle against a rising tide of online shopping and try to compete with popular Class A centers and discount outlets, market experts said. The conversion of mall space into apartments simultaneously solves two problems, reviving dying malls while addressing a housing shortage.
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