TYLER, TX (KLTV) - Jobs are tight, everywhere. The national unemployment rate is now at 9.8% and it is only expected to get worse before it gets better. So, why would it cost you more money to move to where the jobs are? It got us pondering...
"Yesterday, I sent one to El Paso," said Keith Campbell, with U-Haul. "Last week, I sent one to Colorado."
It's called the U-Haul economic index. Campbell has been renting moving trucks and trailers for nearly 15 years. But, what does the price of a U-Haul rental have to do with unemployment rate?
"[It's] supply and demand...I guess...we got more people coming to Tyler than we got leaving," said Campbell.
Those people need moving equipment so we asked Campbell to give us some rates on the biggest truck they have (A 26 footer!). From Tyler, where the unemployment rate is about 8%, to Vegas, where it's in the double digits, costs $914, but it costs $1881 to move from Vegas to Tyler.
In Detroit, where unemployment is at 17%, to come to Tyler it will cost $2011. But, to go to Detroit it will cost only $431.
"It makes sense," said Tom Mullins with the Tyler Economic Development Council, who thinks though it is interesting information, it is also an indicator. None-the-less...
"You got lower cost of living, lots of recreational opportunities, better climate, no state income tax," said Mullins.
And, with more job opportunities than many other cities, Mullins says about 4000 people relocate to the Tyler area each year.
"Medical, education and financial information technology," he said.
More U-Hauls to pack...fewer homes to sell...
"We've seen recent real estate figures showing the Austin area is the number one area for people inquiring about moving...into Texas, but Tyler was the number two area," said Mullins.
Henry Killen has been out of a job for six months. He is looking in the Houston area.
"I'm going to take a job where they're going to move me, thank you," he laughed.
And, what better rate is there than free?
Rates are set by the national office and can change. We even rated a move from Tyler to Dallas. It's about $70. If you rent a U-Haul and move to Tyler from Dallas, it'll cost you $180.