A recent article in Forbes entitled The New Geography Of Jobs: Where You Live Matters More Than Ever – Forbes provides startling comparisons, which can mean the difference in finding a sustainable livelihood. Forbes cites a new book by Berkeley Economics Professor Enrico Moretti, entitled The New Geography of Jobs.
Within the same state, local economies vary significantly, determining this discretionary income and spending. This is evident from the differences in the share of workers who have college degrees and their average salaries. For example, in Stamford, Connecticut only 15% of the workforce are college graduates with average salaries of $54,651 while in Stamford, 56% of workers have college degrees with average salaries of $133,479. In Modesto, California, 16% of workers graduated college and earn an average of $60,563 and in San Jose, it is 47% and $87,033. Similar contrasts can be found in many states.
The higher salaries results in the demand for more service and support jobs and how much those with service and support jobs earn. The kind of jobs and businesses range from business services to dog walking, fitness coaches and financial planners. Another consequence of lower incomes is mobility – the ability to move to another job.
We believe the net consequence of this is to make localization imperative because it enables the creation of local businesses and institutions through which people can buy cooperatively, barter, share or engage in exchanges of such resources as tools and clothing, and barter for things they need.
Communities have a choice when faced with unfavorable economic statistics – either let their areas deteriorate or work together to find local solutions. For more reasons for why localization is vital, see our earlier blog.
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