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 »
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 »
In the aftermath of the Baltimore riots, there is increased concern with issues of race and opportunity. Yet most of the discussion focuses on such things as police brutality, perceptions of racism and other issues that are dear to the hearts of today’s progressive chattering classes. Together they are creating what talk show host Tavis Smiley, writing in Time, has labeled “an American catastrophe.” read more »
This is the overview from a new report, Best Cities for Minorities: Gauging the Economics of Opportunity by Joel Kotkin and Wendell Cox for the Center for Opportunity Urbanism. Read the full report here (pdf viewer).
This study provides an initial analysis of African-American, Latino and Asian economic and social conditions in 52 metropolitan regions currently and over the period that extends from 2000 to 2013. Our analysis includes housing affordability, median household incomes, self-employment rates, and population growth. Overall, the analysis shows that ethnic minorities in metropolitan regions with significant economic growth and affordable housing tend to do better than in other locations irrespective of the dominant political culture. read more »
In the May 11 issue of Finance and Commerce, Matt Kramer, a local Chamber of Commerce representative lobbying for additional public transit and transportation spending (currently being debated at the Minnesota Legislature) is quoted as saying “Every person who is riding transit is one less person in the car in front of us.” read more »
The California Department of Finance (DOF) has issued population projections for the state’s counties to 2060. Forecasts are provided for every decade, from a 2010 base. The DOF projects that the the state will grow from 37.3 million residents in 2010 to 51.7 million in 2060. This is a 0.7 percent annual growth rate over the next 50 years. 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 »
One unique aspect of Baltimore is that it is a so-called “independent city” that is not part of any county. Because of this, migration data from the IRS allows us to look specifically at the city of Baltimore. So I wanted to take a quick look at migration between Baltimore and its suburbs.
As you might expect, there’s been a net outflow of people from the city for quite some time. From 1990 to 2011 (the most recent year the IRS has released), Baltimore lost almost 151,000 people on a net basis to its suburbs. Here’s the chart: read more »