A new survey by SmartAsset.com has found that New York, California and Illinois are losing more highly paid workers under 35 than they are gaining.
SmartAsset, a website that provides financial advice to young professionals, compiled the survey data by comparing the tax returns of workers making over $100,000 during the survey period of 2019 to 2020.
The Prairie State finished third, behind New York and California, for net loss of sought-after workers under 35. The District of Columbia and Massachusetts came in fourth and fifth behind Illinois for net loss of those workers, the survey found.
Todd Maisch, president and CEO of the Illinois Chamber of Commerce, said the survey numbers are small, but businesses in Illinois continue to be concerned about retaining workers.
Illinois gained 6,527 highly paid professionals during 2019 and 2020, but it lost 9,386 comparable workers, SmartAsset found. That is a net loss of 2,859 top-talent workers.
"Whether you are a trucking firm or a McDonald's franchisee or an IT consultant, everybody is competing for talent," Maisch told The Center Square. "Illinois is still attracting talent, but the big thing that comes to my mind is, can we keep it?"
The most popular destinations for rich young workers are Washington state, Texas and Florida, SmartAsset found. Maisch said highly paid workers in their 30s are looking for mid-career lifestyles.
"Another state might not have the Chicago lakefront, but it can have a lot of things that Chicago has," he said. "Recruiters from other states say, 'We're safer. We're more stable. You won't have to worry about the government zigging and zagging on you all the time.' That's our competition."
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