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Cities Aren’t Just Where the Jobs Are; They’re Where the Other Jobs Are, Too

One way that the labour market has changed over the last couple generations is that careers are now typically made up of a series of jobs at different organizations, away from the default of sticking with one or two for the long haul. Optionality – in the form of having lots of attractive jobs near you at any given point in time – is even more important today than it used to be. I honestly think this is the single biggest recent driver of why a select few large cities are disproportionally running away with the compounding gains of economic success recently: if you are a professional worker, those select cities aren’t just where the high salaries are, they’re where the highest number of other options of high salaries are. For a skilled professional, high rates of job turnover are a path for accelerated career advancement: it’s much easier to find a new job that will level you up and boost your income, and you already live in the city where they are.

Source: What happens if building more housing doesn’t work? – alexdanco.com

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