Puerto Rico's decline in population this century represents the largest wave of migration from the island since the "Great Migration" in the 1950s and 1960s, according to a new report released by the Pew Hispanic Trends Project.

The island experienced a net loss to the mainland United States of 192,000 people for the years from the 2000 census to the 2010 census, according to the report, which cited U.S. Census Bureau data. 

Around 144,000 more people left the island for the mainland then arrived from July 2010 to July 2013, population estimated showed, according to Reuters.

"The search for economic opportunity is the most commonly given explanation for moving by island-born Puerto Ricans," the report concluded, according to USA Today.

Puerto Ricans living stateside reached a record 4.9 million people in 2012, and since around 2006, this group has exceeded the population of Puerto Ricans on the islands, which equaled 3.5 million back in 2012.

Click here to read the report.

"The search for economic opportunity is the most commonly given explanation for moving by island-born Puerto Ricans who relocated to the mainland from 2006 to 2013," the report said, according to Reuters.

The report is a reminder of the deeper demographic woes that the U.S. territory faces as it attempts to restart its declining economy and tackle a debt load of more than $70 billion.

"We've achieved substantial results, including passing the first balanced budget in 22 years, achieving our target of creating 50,000 new jobs since taking office and bringing global businesses like Lufthansa to Puerto Rico," said García Padilla, who took office in January 2013, according to USA Today. "There is more work to be done, and we continue to execute on a comprehensive plan to drive economic growth and fiscal stability."

The report also confirmed that the population of Puerto Rico is likely to continue its slide to about 3 million by 2050.

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