U.S. economic growth is limited to a handful of high-growth cities and towns wile masking the declines in rusting former factory towns, parts of the rural South and other areas, a study cited by The Wall Street Journal said.
“The prime years of the national economic recovery bypassed many of America’s most vulnerable places altogether,“ the Economic Innovation Group said in a report. ”Far from achieving even anemic growth from 2011 to 2015, distressed communities instead experienced what amounts to a deep ongoing recession.”
The unemployment rate is near a 16-year low and the economy has added more than 16 million jobs in the past seven years. But those numbers don’t reveal the major divisions between the have’s and have-not’s, according to EIG, a Washington policy group that was established in 2015.
Its report shows how wealth and poverty are reflected in educational attainment, housing vacancy rates, labor-force participation, poverty