Richard Florida
by Richard Florida
Sat Mar 28th 2009 at 10:14am UTC

College Towns Thrive in the Reset

(Graphic from the Wall Street Journal).

College town economies are among the most resilient according to the Wall Street Journal.

Of the six metropolitan areas with unemployment below 4% as of January, three of them are considered college towns. One is Morgantown. The other two are Logan, Utah, home of Utah State University, and Ames, Iowa, home of Iowa State University. Both have just 3.8% unemployment, based on Labor Department figures that are not seasonally adjusted. The pattern holds true for many other big college towns, such as Gainesville, Fla., Ann Arbor, Mich., Manhattan, Kan., and Boulder, Colo. In stark contrast, the unadjusted national unemployment rate is 8.5%

4 Responses to “College Towns Thrive in the Reset”

  1. Swordsman Says:

    Houma and Midland are low because of petroleum jobs.

    Although, a better look at these cities might be to see if they all had lower unemployment to begin with before the recession.

  2. Eric Says:

    I think all this says is that just as many people move into these places as move out. They could be moving out. We need to also see the data of how many jobs are being created.

    Cities with high unemployment may also be creating a net increase of jobs because they are gaining population from other areas. Such is the case in NC’s Research Triangle, as nearby agricultural and agriculturally dependent manufacturing counties tank further.

  3. Paul Says:

    This list seems to stretch things in attempt to make an argument. Houma and Lafayette, Louisiana and Midland, Texas? This takes two very small state school branches in regions where other industries play a larger role. Why not Baton Rouge, Lousiana and College Station, Texas? Also, what’s in Casper, Wyoming? U of Wyoming is in Laramie and the capital is in Cheyenne. Casper is doing well because of oil shale.

  4. Loopdilou Says:

    Unfortunately, this is definitely not across the board. I live in Santa Cruz, CA and our unemployment rate is (I believe) at about 10-11%. We may be home to the UCSC slugs, but strict anti-development policies have made it too expensive for creative businesses to operate.