Nov 20, 2018

America's largest cities have 72% of the post-crisis employment growth

Reproduced from a Brookings Institution report; Chart: Axios Visuals

In the recovery from the financial crash, the largest, densest U.S. cities have had much steeper employment growth than smaller communities, according to a new study by Brookings' Clara Hendrickson, Mark Muro and William Galston.

"Big, techy metros like San Francisco, Boston, and New York with populations over 1 million have flourished, accounting for 72% of the nation’s employment growth since the financial crisis. By contrast, many of the nation’s smaller cities, small towns, and rural areas have languished."
— An excerpt from the report

The big picture: The report traces this economic trend to the current state of political polarization. "In a very real way, the 2016 election of Donald Trump represented the revenge of the places left behind in a changing economy," the authors say.

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World Bank cuts growth forecast for fourth time in a row

Photo: Win McNamee/Getty Images

The World Bank cut its global growth forecast for the fourth straight time on Wednesday, reducing expectations by 0.2 percentage points each year for 2019, 2020 and 2021.

"Global economic growth is forecast to edge up to 2.5% in 2020 as investment and trade gradually recover from last year’s significant weakness but downward risks persist. ... U.S. growth is forecast to slow to 1.8% this year, reflecting the negative impact of earlier tariff increases and elevated uncertainty."
— World Bank statement on its Global Economic Prospects report
Go deeperArrowJan 9, 2020

The 2010s saw a fall in the number of American kids

Data: William H. Frey analysis of U.S. Census estimates released Dec 30, 2019; Map: Danielle Alberti/Axios

There are 1.1 million fewer children living in the U.S. today than there were at the start of the decade, according to an analysis of new Census data by the Brookings Institution's William Frey.

The big picture: The adult population grew by 8.8% in the 2010s. in the three previous decades, the child population increased. The past decade marks a pivotal moment as the U.S. ages and, as a result, family life is transformed — especially because Americans are waiting longer to have children and having fewer of them.

Go deeperArrowJan 2, 2020

An unsettling future for millions of American jobs

Illustration: Aïda Amer/Axios

The U.S. economy is besting expectations for job growth, and the unemployment rate is at its lowest in several decades — but the other side of the story is that millions of jobs out there just aren't good enough.

Why it matters: Almost half of all American workers are stuck in low-wage jobs that often don't pay enough to support their lives, lack benefits and sit squarely inside the automation bullseye.