U.S. Census 2020 Results: Takeaways For Nokia Employees

For Nokia employees, it is imperative to keep track of U.S policy changes as to plan your finances effectively. Every 10 years, the U.S. Census Bureau releases its final count of the U.S. population.

Those employed in Nokia may benefit from understanding how the new census numbers determine a state’s congressional representation in the U.S. House of Representatives for the next decade, along with the amount of money each state will receive from the federal government.

The 2020 Census was released in April 2021. Here are a few takeaways to keep in mind as a Nokia employee.

Six states had population increases that will allow them to gain at least one new seat in the
House of Representatives – all are in the South or West. North Carolina, Florida, Colorado,
Montana, and Oregon will each gain one seat and Texas will gain two seats. Two of these states – Florida and Texas – have no individual income tax.

On the other side, seven states had population decreases that will cause them to lose one seat each – New York, Pennsylvania, West Virginia, Ohio, Missouri, Illinois, and California.

Overall, the U.S. population grew to 331 million, a 7.4% increase from the last Census in 2010. This is the second slowest rate of population growth the census has ever recorded, just behind
the 7.3% growth rate in the 1930s.

Many demographers are forecasting slower U.S. population growth in the decades to come. For those employed in Nokia, it may be beneficial to consider how slow population growth can lead to lower economic growth due to less people in the workforce
and fewer consumers to drive the purchase of goods and services.