Wednesday, July 25, 2012
The belief that population growth will bring jobs and economic prosperity for local residents is a myth
Researchers found that the slowest-growing metro areas had lower unemployment rates, lower poverty rates, higher income levels, and were less impacted by the recession than the fastest-growing areas. In fact, in 2009, local residents of slower-growing areas averaged $8,455 more per capita in personal income than those of the fastest-growing areas. Population growth is not creating employment opportunities. Instead it is reducing them as newcomers fill job openings. The slowest growing areas were located in 13 different states, including Connecticut, New York, and Ohio while the fastest-growing areas came from 12 different states, dominated by California, Florida, and Texas. California, Florida and Texas have high levels of Hispanic immigration which may be an important factor.