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Los Angeles had the largest county GDP in 2018. Photo: Apu Gomes/AFP via Getty Images

32.3% of U.S. gross domestic product was concentrated in just 31 counties in 2018, according to government data reviewed by Bloomberg.

Why it matters: All 31 counties included or were near major U.S. cities, signaling that the economy is concentrating in urban areas as economic output from more rural counties is dwindling.

By the numbers: The 31 counties accounted for 26.1% of employed Americans in the country and only 21.9% of the total U.S. population last year. The counties' combined share of GDP continued to rise last year even though their share of the overall population fell.

  • Los Angeles County, which has a GDP equivalent to Saudi Arabia, had the largest county GDP in 2018, adding $395.2 billion to total U.S. GDP from 2001 to 2018.
  • New York City's five counties generated 4.8% of U.S. GDP in 2018, and New York County, home to Manhattan, added $340 billion to total U.S. GDP from 2001 to 2018.

The big picture: U.S. industries are also becoming increasingly concentrated in a few counties. Nearly three-fifths of the information sector's output came from just a few dozen counties — many of which were on or near the West Coast and home to tech giants like Apple, Google and Amazon.

  • The New York City region dominated in national finance, and Los Angeles held the top spot in the arts and entertainment industry.
  • Meanwhile, the agriculture, forestry, fishing and hunting sectors continued to decentralize.

Go deeper:

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Trump set to appear at Pennsylvania GOP hearing on voter fraud claims

President Trumpat the White House on Tuesday. Photo: Chip Somodevilla/Getty Images

President Trump is due to join his personal lawyer Rudy Giuliani in Gettysburg, Pennsylvania, Wednesday at a Republican-led state Senate Majority Policy Committee hearing to discuss alleged election irregularities.

Why it matters: This would be his first trip outside of the DMV since Election Day and comes shortly after GSA ascertained the results, formally signing off on a transition to President-elect Biden.

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
10 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.