4 ms·
Often missing from discussions of lower CoL areas is risk from different job markets. This is harder to factor in, but since not everyone can work remotely, you
by shostack 9y ago
Often missing from discussions of lower CoL areas is risk from different job markets. This is harder to factor in, but since not everyone can work remotely, you need to consider job market liquidity.
If there is a recession can you easily find another job? Do you have a decent selection of local employers to ensure sufficient competition in terms of wages and benefits? Etc.
Living in a high CoL area seems to correlate with a healthier job market.
- austincheney 9y agoThe best bet for low risk, high employment, and CoL - https://en.wikipedia.org/wiki/Plano%2C_Texas#Economy https://en.wikipedia.org/wiki/Plano%2C_Texas#Economy It costs much more than where I live, but it is still incredibly cheap compared to west coast.
- vecinu 9y agoI'm not sure how true this is. My coworkers mention that during the 2007/2008 recession in SF they saw all of their coworkers/friends laid off and leave the Bay Area. It took one of my coworkers a whole year to find another job during that period, even though he was in a high CoL area and initially had a "great selection" of jobs.
- rconti 9y agoI don't know a single person that lost a job in 2007/2008. Everyone just hunkered down. Stopped job hunting, employers stopped hiring, everyone just stayed quiet. Now, I know my anecdote doesn't mean much, because supposedly unemployment went up. Traffic certainly got better. But my point is, the anecdotes aren't worth a ton. I'm not making mine up -- I'm dead serious. Nobody I know got laid off, nobody I know left the area. I also know far more people who have moved TO California than out of it, and the only people I know who moved out were a couple of people in the past 3 years.