As the outward migration slows, he predicts, new individuals in search of career alternatives will flood into urban areas, more than making up for the people who left. The massive hubs will resume agglomerating, just as they did within the a long time main as a lot as the pandemic. We’ve heard lots about how the mass migration has been unhealthy for major cities, sending them into a “doom loop” of empty workplaces and shuttered storefronts. But a brand new paper coauthored by Enrico Moretti, one of the best thinkers on the geography of jobs, highlights the dangers the migration poses for the very professionals who are ditching big cities.

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Markets sharply dialed again the possibilities of a price cut at that gathering after the January jobs information. But Labor Department statisticians also revised the more modern estimates, using what they realized from the state data to improve their models. Those changes showed job development was stronger in 2023. Revisions present even stronger job development in 2023 than first reported.


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