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The U.K. has the same problem. Remove London from the equation and the U.K. is poorer than the poorest US state. And like the EU there’s very little investment
by chgs 2y ago
The U.K. has the same problem. Remove London from the equation and the U.K. is poorer than the poorest US state.
And like the EU there’s very little investment from London out to the regions
This leads to increased demand for housing in London (and to a lesser extent Manchester and a couple other big cities) and a vicious cycle.
Even worse, an ambitious young person can’t go anywhere else other than London thanks to Brexit.
In the U.K. the median wage outside London is about 20% above the minimum wage. There’s basically no point in doing anything other than the lowest shittest job you can find. Hell a masters degree will only net you about 30% more than minimum wage in many sectors.
I’ve just spent 2 weeks in the US, including being in Florida since Sunday. A young colleague has been working in our DC office for much of the last 2 years on a non immigrant visa. He went for a h1b and has got it, he’ll be leaving for a local employer by the end of the year.
For the first time ever I’m actually thinking the problems of the US are now less than those of the U.K., and even potentially Europe, and were I 20 again I’d be looking at the US as a target.
- steveBK123 2y agoYes I've worked nearly 20 years with teammates in London and watched how much even London & NYC have diverged in that time. There was a brief period post GFC where it seemed like the US had lost its way and Europe had the right idea. Europe leaned hard into austerity and self immolated while the US just grew our way out of it and into the future. As an American, I've always sort of held the stereotype of Europe as being a fun place to vacation. Nice lifestyle if you've made your money already, probably elsewhere. Unintentionally or not, Eurocrats seem to have done everything they can to perpetuate this further and further. Between austerity, regulation, bureaucracy, etc it just seems like the whole continent is encased in amber, focussed on how to slice up a static/shrinking pie.
- j7ake 2y agoIt’s a nice lifestyle even if you haven’t made your money as long as you have a full time position. The work-life balance is so tilted towards life that it’s already semi retirement for people with full time jobs because job security is so high. Best is getting a job in the European Union (in Belgium ) , United Nations, or other multi country agency.
- steveBK123 2y agoYes but I do wonder how sustainable that WLB is in the EU for someone in say their 20s or even 30s now. At some point the declining demographic situation means your taxes will go up, and the percent of budget going towards retirees will go up. Meanwhile the retirement age for current workers like you will increase, but future benefits you will receive when you eventually retire get cut. It's basic math of any shrinking & aging country as the worker:retiree ratio shrinks.