Regions hit by import competition experience long-lasting job losses, while those receiving large immigrant waves do not. This is because immigrants tend to settle in expensive cities, making them less likely to move due to economic shocks. On the other hand, import competition affects all types of local job markets. When housing costs are high, people are more likely to move away when faced with economic challenges. This explains why migration is more responsive in expensive cities compared to cheaper ones, regardless of the type of economic shock.