US rural economies are ‘main losers from employment trends’
Fed research says automation and globalisation have militated against job creation in remote areas
Research from the Federal Reserve has found “relatively large, negative employment effects” in rural areas of the US. The paper states that high levels of unemployment could stem from the historic concentration of manufacturing in these areas.
The paper, written by Andrew Dumont and published on January 19, says remote areas “may face an inherent disadvantage in the modern knowledge economy where the clustering of highly skilled workers and firms in dense areas generate increasing returns”.
The
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