Recently I received a review copy of a really important book: The New Geography of Jobs by Enrico Moretti. You can get it on Amazon through my link here:
The New Geography of Jobs
Moretti argues that the innovation sector of the economy (such as software and scientific R&D) employ just 10% of the working population – but has a disproportionate impact on local job growth. One new job – such as hiring just one scientist – might generate 5 additional jobs in other sectors. Two of these new jobs are professional (doctors and lawyers) and three are lower skilled (such as restaurant workers).
What does this mean?
Cities with high innovation will offer higher incomes, more jobs, more progressive growth, less crime and a whole lot more. Those with low innovation will be declining (think of Detroit, for instance).
If you live in a high-innovation city, with a higher proportion of college graduates, you’re likely to earn more. In fact, what’s even more unusual, high school graduates also earn more in high-innovation cities.
Apart from incomes, life in a high-innovation location offers a concentration of jobs and employees. Both job seekers and employers have more options, so you’re more likely to find a job that where you are a good fit. If you’re in a declining city, you might have trouble finding a job, let alone a great job.
What does this mean for you?
Moretti offers a novel suggestion. He thinks that unemployment payments should be set up to subsidize relocation to a city where jobs are more plentiful.
Of course I don’t recommend that everyone who wants a new career should pack up and call the moving van. However, I’ve found that we should ignore the old adage, “If you can’t be happy here, you won’t be happy anywhere.” You may not only find work, but you may become happier and more productive when you move to a new location.
In fact, I’d go even further. I’ve met some people who think they need a new career, when in fact they just need a new home in a new location. Cities and regions have unique cultures, even in a single country or state. In Pennsylvania, for instance, Philadelphia is completely different from most of the rest of the state. And it’s very different from Seattle, where I lived for several years.
The biggest challenge often comes when you get an offer or opportunity, but you have to relocate to take advantage of it. In some cases, your career change will require exploring outside your home city or state, even in the earliest stages.
These are some of the topics we will discuss in the forthcoming Career Change Workshop:
You have just until June 20 to enjoy the $50 savings coupon.
If you are moving, I’d encourage you to take a look at my relocation book. Most books help you pack a box. This one helps you pack up your life. http://www.RelocationStrategy.com