A look at job growth in America’s small and medium-size cities provides a very different, perhaps more intimate portrait of the ground-level economy across a wider swathe of the country than our survey last week of The Best Big Cities For Jobs. It takes us to many states that lack large cities, particularly in the Midwest and South. read more »
Maybe it’s that reporters don’t like malls. After all they tend to be young, highly urban, single, and highly educated, not the key demographic at your local Macy’s, much less H&M.
But for years now, the conventional wisdom in the media is that the mall—particularly in the suburbs—is doomed. Here a typical sample from The Guardian: “Once-proud visions of suburban utopia are left to rot as online shopping and the resurgence of city centers make malls increasingly irrelevant to young people.” read more »
Since the U.S. economy imploded in 2008, there’s been a steady shift in leadership in job growth among our major metropolitan areas. In the earliest years, the cities that did the best were those on the East Coast that hosted the two prime beneficiaries of Washington’s resuscitation efforts, the financial industry and the federal bureaucracy. Then the baton was passed to metro areas riding the boom in the energy sector, which, if not totally dead in its tracks, is clearly weaker. read more »
Real gross domestic product is growing at an anemic pace. Exports are down, and state and local governments are spending less. The consumer price index is falling in a condition known as deflation. Even national defense spending is down. Despite the bad news, consumer spending and home building are rising. Real disposable personal income is roaring ahead at growth rates of 6.2 percent in the first quarter of 2015 and 3.6 percent at the end of 2014. read more »
Australia’s inner city areas and CBDs are a focus of media and public policy attention, with good reason. But it’s also true that the real engines of employment are outside the inner city areas and that the dominant role of our suburban economy as an economic engine is grossly understated, even ignored. This is not good public policy. It’s not even common sense.
I have a view that the focus on urban renewal and inner urban economic development has become a policy obsession of late. read more »
Discouraging employment data have recently dampened optimism about America’s economic recovery. These challenges are nothing new for developed regions long beset by manufacturing decline amidst globalization. Exemplars of this trend, America’s rust belt cities have battled unemployment, decaying infrastructure, and social challenges since economic decline emerged in the 1960s. In response, some now cultivate service, knowledge, and tourism industries. read more »
Working at home, much of it telecommuting, has replaced transit as the principal commuting alternative to the automobile in the United States outside New York. In the balance of the nation, there are more than 1.25 commuters who work at home for each commuter using transit to travel to work, according to data in the American Community Survey for 2013 (one year). When the other six largest transit metropolitan areas are included (Los Angeles, Chicago, Philadelphia, Washington, Boston and San Francisco), twice as many people commute by working at home than by transit. read more »
We consume their products every day but economists give them little attention, and perhaps not enough respect. Yet America’s agriculture sector is not only the country’s oldest economic pillar but still a vital one, accounting for some 3.75 million jobs — not only in the fields, but in factories, laboratories and distribution. That compares to about 4.3 million jobs in the tech sector (which we analyzed last month here). read more »
California is undergoing profound change. Most strikingly, people are leaving the Golden State, which was once the preferred destination of migrants worldwide. California’s domestic migration has been net negative for over 20 years. That is, for 20 years, more people have been leaving California for other states than have been arriving from other states. The state’s population is only growing because of a relatively high birthrate, mostly among immigrants. read more »
The just released County Business Patterns indicates a general trend of continued employment dispersion to the newer suburbs (principally the outer suburbs) and exurbs but also greater concentration in the central business districts of the 52 major metropolitan areas in the United States (over 1 million population in 2013). County Business Patterns is a Census Bureau program that provides largely private-sector employment data by geography throughout the nation. read more »