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Jill on Money with Jill Schlesinger

Coastal Job Growth on CBS This Morning

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.61.9K Ratings

🗓️ 13 December 2019

⏱️ 4 minutes

🧾️ Download transcript

Summary

A new report shows just five coastal cities are getting a huge majority of America's high-tech jobs. Researchers found the Seattle, San Francisco, San Jose, San Diego, and Boston areas accounted for more than 90% of job growth in the tech sector from 2005 to 2017. I joined CBS This Morning to discuss what this says about the economy and the future of jobs.

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Transcript

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0:00.0

Welcome to this bonus episode of the Jill on Money Podcast.

0:07.0

Hey, if you're looking for a new job for 2020,

0:10.0

you might want to head to the coasts. That's where we're seeing a gold rush, a job rush of sorts.

0:16.5

That's what I talked about on CBS this morning this week.

0:19.5

And this morning's eye on money, a new report shows just five coastal cities are getting a huge

0:25.1

majority of America's high-tech jobs. Researchers found Seattle, San Francisco,

0:31.0

San Jose, San Diego, and Boston areas accounted for more than 90% of the job

0:37.4

growth in the tech sector from 2005 to 2017.

0:42.2

CBS News Business analyst Jill Schlesinger is here to show us what that says about the economy and the future of jobs.

0:49.0

Jill welcome, happy birthday yesterday.

0:52.0

Thank you.

0:53.0

Let's start with this.

0:55.0

Why is it, why is it concentrated in such small in a few areas?

0:58.6

You know, these are innovative industries and they have found that clustering in these small areas gives them

1:03.8

access to a very highly educated pool of talent. They get to the sophisticated

1:09.2

supplier chain and education institutions and they actually say that putting these areas in

1:15.9

sort of a small concentric circle allows those companies to be more productive and

1:21.0

that's why they are settling in these cities.

1:23.4

But why those areas as opposed to North Dakota to South Dakota?

1:26.6

Well, I think that those cities really, those cities have that great combination.

1:30.4

And I think the problem is, is cities that are selected.

1:33.0

Yeah, that those cities take all.

...

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