5 ms·
If a job someone doesn't want to do pays well enough, it becomes a job someone wants to do. See: Working in $expensiveCity, banker, lawyer, jobs requiring lots
by blueskin_ 13y ago
If a job someone doesn't want to do pays well enough, it becomes a job someone wants to do.
See: Working in $expensiveCity, banker, lawyer, jobs requiring lots of travel, etc.
If the lack of available workers pushes the pay up, more people consider the previously undesirable job desirable again and start learning the requisite skills if applicable, increasing the candidate pool and pushing pay back down - in this way, jobs find equilibrium.
- seanmcdirmid 13y agoCities are generally expensive because they are desirable places to live; that there are jobs available is only part of that.
- blueskin_ 13y agoThere's a tradeoff. For example, even people making low 6 figures are unlikely to ever own a house in (a decent part of) London unless they inherit it or win the lottery. A medium to small city is more economical for cost of living, with a decent proportion of the pay and lower costs of living.
- seanmcdirmid 13y agoBut you are living in a small city. If you are young you might not care about buying a house, and care about hanging out with friends and doing things instead. Cities attract young people who don't mind renting, suburbs attract families who care more about buying their own houses.
- blueskin_ 13y agoPart of that is true, I guess - I'm temporarily renting, but family is definitely not in my future plans. Suburbs don't appeal to me, especially as I like going out, but neither does a prohibitively expensive city where I'll never do better than a flat.