New Study: Talent Matters More than Ever

Conor Doughtery of the Wall Street Journal has a piece on a new study that suggests areas with better educated workforces are faring better in this “new normal.”

Jonathan Rothwell, a Brookings researcher who worked on the study, said metropolitan areas with the highest education levels were doing better than those with lower educational levels before the recession, “and they’re doing much better during the recovery.” . . . .

. . . . The Brookings study shows that metropolitan areas with lower education gaps have lower unemployment rates for people with college degrees as well as workers with high school only, and even workers who are under age 18.

Over the past two decades, education has been the best single predictor of a city’s chances of economic success—for all workers, not just the doctors doing surgery or the tech workers belting out computer code.

“Cities with highly educated workers attract employers that create wealth and then (employees) spend it in the local service sector, supporting the vast majority of us,” [Enrico Moretti, an economics professor at the University of California, Berkeley] said.

You can read Conor Dougherty’s article here (subscription required).  You can download the Brookings Institution’s study here.

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