According to Joel Kotkin and Michael Shires, as cyber companies have created new disruptive job opportunities, employment in older forms of media (e.g. newspaper, magazine, and book publishing) has dropped considerably. Unfortunately, these new “disruptive” jobs have yet to sufficiently make up for the 172,000 traditional media jobs lost from 2009-2014.
However, despite these trends, some regions are faring better than others in regards to information jobs, with some of the biggest winners being those areas – particularly those along Silicon Valley – who were able to develop a strong engineering base before the rise of the internet. In San Jose alone, information employment skyrocketed from 2009 to 2014, bringing in upwards of 70,000 new jobs.
Yet, it’s not just Silicon Valley areas which have seen this rapid growth, but also regions like Seattle and along the Sun Belt, including parts of Arizona and Texas, which have seen a 30.8% employment rise on average since 2009. Part of the reason these economies have seen such a dramatic turn has to do with the lower cost of housing. Unlike Silicon Valley, where cost of living has kept new talent from moving into the area, other areas around the Sun Belt have provided information job opportunities with the added bonus of reasonable living arrangements. There’s even been some impressive results from unexpected cities, such as the Warren-Troy-Farmington Hills region of Michigan and Baton Rouge, LA who are making their own considerable leaps towards disruptive job creation.
While non-traditional jobs are on the rise, and traditional positions are becoming less relevant, some of the original powerhouses are able to make the transition into the digital sphere at an impressive rate. New York, for example, has seen a 13.0% boost in information jobs since 2009 – including TV, radio, and motion picture industries.
Although the information sector may have yet to make up for the losses of the last decade, it’s still a critical component in today’s economy. Statistics have also proven that growth can and will occur in unexpected ways and places.
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What’s an example of growth at your company or in your city that surprised you?