The majority of job growth in high-tech industries is concentrated in just a handful of metropolitan areas in the U.S.—and this regional divide drives 'national inequality,' a new report says.
This doesn't necessarily mean those looking for a job in fast-growing industries should flock to these five cities, the report points out. The concentration of rapid growth in these metropolises have led to other crises for residents -- including"spiraling real estate costs, traffic gridlock, and increasingly uncompetitive wage and salary costs."
"In short, the geographic distance between the left-behind masses and the fortunate few in superstar hubs undercuts economic inclusion and contributes to national inequality," the report states.An aerial view of the downtown Boston city skyline, Sept. 5, 2019 at Fenway Park in Boston.
The economics idea"that markets can be left to drive innovation has instead left the heartland behind," he added.
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