The Financial Services Sector and Cities: Restructuring, Decentralization, and Declining Urban Employment
Financial services industries have been an important source of central-city employment, including new jobs. Although decentralization occurred in the 1970s and 1980s, widespread national growth in the sector generally resulted in central-city employment gains. In the 1990s, despite continuing national growth in the sector overall, financial services became a key source of job losses in many cities. From 1991 to 1996, financial services employment declined by 5% in a sample of 40 large cities but increased by 9% in corresponding suburbs. Twenty-five of these cities lost finance jobs, with losses exceeding 10% in 11 cities. Moreover, financial services were often a disproportionate contributor to total employment losses. This article describes these trends and explores the relationship between industrial structure, city size, and region on the suburbanization of financial services employment.
Year of publication: |
2001
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Authors: | Immergluck, Daniel |
Published in: |
Economic Development Quarterly. - Vol. 15.2001, 3, p. 274-288
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Saved in:
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