IS IT THE RIGHT MOVE?
Remote Workers Are About To Get A Rude Awakening
A new study shows that moving away from a big city can be bad for your career.
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The Lede
Business Insider's Aki Ito talks about hordes of Americans fleeing big coastal cities during the pandemic, and wonders when — or if — they'd return. We've heard a lot about how the mass migration has been bad for major cities, sending them into a "doom loop" of empty offices and shuttered storefronts. But a new paper coauthored by Enrico Moretti, one of the best thinkers on the geography of jobs, highlights the dangers the migration poses for the very professionals who are ditching big cities.
Key Details
- Moretti's research revealed those who lived in small labor markets were less likely to find a new job within a year than those in large labor markets.
- "The big takeaway is that market size matters," said Moretti. "It's clear that larger markets improve the quality of the match."
- And over the past year, more and more employers have stopped hiring for remote roles. The market for WFH jobs has cratered, putting everyone who moved away from big cities at risk.