As reported by Axios, U.S. geographical economic inequality appears to be growing. This means that as time passes, new jobs are beginning to consolidate around the nations most elite zip codes. As a result, out of every four new jobs, only one is left available for the bottom 60% of zip codes. How did Alabama score in the latest report? Not so great.
Looking at the map, it’s easily discernible that the majority of Alabama is “at risk” in the category of economic stability. While some areas, mostly in Northern Alabama, show a positive economic trend, at least 2/3 of the state is shown in orange and red clusters of at-risk communities.
According to the report, part of the problem centers around the issue of fewer jobs being created. As the creation of new companies declines, states like Alabama suffer the consequences. This is because the new businesses that are started tend to look for thriving communities. Thus, a vicious cycle of decreased job creation and the increased disparity is often the case.
The nexus of the problem appears to be concentrated on worker education. The more educated workers a given community has, the more the likelihood they will attract new business.
So what can Alabama do? Clearly, we must focus on providing better educational tools to our citizens, so they are prepared to compete in a fluid job market. Unlike previous generations, progress is taking place at an unprecedented pace. If Alabamians want to stay ahead of the curve, it’s imperative that we make education a priority. This will create a flourishing market that attracts business instead of forcing them to look elsewhere.
Alabama is hopeful, however, that as President Trump works with Congress to lighten over-bearing regulations and lower the corporate tax rate from 35% to 15%, more jobs will be created in expanding geographical areas across Alabama and the country.
