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There’s now no much less than one unemployed job seeker for each vacancy in 5 US states, a sign that the labor market is loosening in swaths of the country. These upsides to dwelling in a giant hub are less obvious than the low rents and good homes which have lured so many professionals to smaller cities. They additionally take time to manifest — you must lose your job earlier than you realize how exhausting it will be to search out another. So professionals haven’t come to grips yet with what they gave up by moving away. “The advantages of being a giant metropolis,” Moretti tells me, “have been underappreciated” through the pandemic.

After all, one of the different developments spurred by the pandemic was the realization that profession is not every little thing. Plenty of individuals will be happy to settle for a lesser job if it means they do not have to sit down in soul-crushing site visitors and may have an enormous backyard for their children. Moretti characterizes being in a big labor market as “insurance coverage” towards future shocks. Living in an enormous metropolis is not nearly having a great job right now.

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