Enrico Moretti: Where the Good Jobs Are—and Why When a high-tech company hires one person, five other new jobs follow: Noted
Enrico Moretti: Where the Good Jobs Are—and Why When a high-tech company hires one person, five other new jobs follow:
The American labor market is recovering from a painful recession. But the recovery is geographically uneven…. Two groups of localities have been doing particularly well…. Both are supported by fast-paced technological progress, but one has by far the bigger jobs-multiplier effect. The first group includes cities endowed with a large number of highly educated workers and innovative employers—places like San Jose, Calif.; Seattle; Austin, Texas; Raleigh, N.C.; Washington, D.C., and Minneapolis…. The second booming-economy group includes areas endowed with oil and gas…. Despite some current similarities, these two groups offer vastly different models…. America's brain hubs have been growing for three decades, and there are good economic reasons to expect that they will continue to grow. Recent history suggests that the growth of oil-producing regions will be reversed if energy prices decline.
