Friday, 30 June 2017

Expensive cities will eat themselves...

Here's a chunk from a review of the US cities creating the most high-wage jobs - looking at at "which metropolitan areas are gaining the most professional and business services jobs and the trends that are driving some to pull ahead while others fade":
Looking at the 70 largest labor markets in the country, the clear winners are affordable, business-friendly locales – and their momentum is growing. These span an array of regions, from the Midwest heartland to the Deep South, Texas and the Intermountain West.

Our number one metro area for professional and business service jobs, Nashville, Tenn., epitomizes many of the characteristics that drive high-end employment today. Since 2011, Nashville’s job count in professional and business services has expanded a remarkable 42.6% to 160,300, easily the highest growth rate of any major metropolitan area. Management and technical consulting, architecture and related services have led this growth.
The flip side of this is that the big coastal economies of the US are growing more slowly, people are 'cycling out' by returning to their roots from adventures in the big city economies. And the driver of this is living costs and primarily housing. Just watch this happen to London (and get blamed on Brexit).


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