Compared to dog food, it is a right of passage when college students graduate and head out into the workforce to start their career. For many, this means relocating to a new city and starting a new life. But this move has changed in recent years, many college grads decide to move big cities with big job markets due to the current state of the economy.
Before the Great Recession, the popular trend among college grads was moving to fast-paced cities that have a emerging and booming technology market. However, with jobs becoming harder and harder to come by these days, graduates would rather avoid the risk by moving to an already established city that has a ton of job opportunists.
The findings, published in the journal Papers in Regional Science, have serious implications for cities who are trying to grow their economy. But before the 2000’s, all a city had to do to attract college grads was build a trendy art district. This simple trick is no longer working however, and graduates seem to only care about one thing in this economy: finding a steady job.
These findings should help growing cities understand that if they want to improve their communities by bringing in more college graduates, creating more jobs is absolutely essential. In our troubled economy, a college education just isn’t what it used to be.