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comment by ButterflyEffect
ButterflyEffect  ·  3009 days ago  ·  link  ·    ·  parent  ·  post: The New Map of Economic Recovery and Growth

I didn't really expect people to read this...

Some excerpts:

    The proportion of counties seeing negative business establishment growth during

    periods of national expansion has increased steadily over the past three recoveries.

    Over the first five years of the 1990s recovery, 17 percent of counties continued to see

    net declines in business establishments. From 2002 to 2006, that figure rose to 37

    percent — and had more than tripled to 59 percent by the 2010s.

    The U.S. economy is becoming far more reliant on a small number of super-performing

    counties to generate new businesses. A mere 20 counties accounting for only 17 percent

    of the U.S. population were responsible for half of the net national increase in business

    establishments from 2010 to 2014.

    As with business establishments, the geography of job growth has narrowed from

    one recovery to the next. Following the 1991 recession, only 14 percent of counties

    continued to post job losses over the course of the next five years. That proportion

    rose to 28 percent in the 2000s and to 31 percent in the 2010s (three-quarters of

    which lost population at the same time). In other words, the share of U.S. counties

    participating in national jobs recoveries has fallen from 86 percent in the 1990s to

    72 percent in the 2000s and only 69 percent in the 2010s. The share of the country’s

    population living in bypassed counties varied but was relatively low in each period:

    During both the 1990s and 2010s recoveries, 11 percent of the population lived in

    counties that continued to lose jobs. Over the 2000s, when manufacturing

    employment losses pummeled more populous corners of the Great Lakes, more

    than one in five Americans lived in counties that were bypassed by the national jobs

    recovery.

    Over prior recoveries, large counties did not play a central role in delivering the

    country’s employment growth. This is no longer the case. The most populous U.S.

    counties — those with over one million people — created 3.3 million jobs over the

    2010s recovery, more than any other size class of counties and more than twice as

    many jobs as they created over each of the two prior recoveries. By contrast, counties

    with under 100,000 people collectively created fewer than one million new jobs in the

    2010s — substantially fewer than 2.5 million they created from 1992 to 1996 and the

    1.2 million new jobs they created from 2002 to 2006. As a result, the 2010s recovery

    has served to accelerate a shift in the country’s economic gravity towards populous

    counties after decades of decentralizing growth that spread economic activity to more

    locales.





kleinbl00  ·  3008 days ago  ·  link  ·  

Interesting. Thanks.