from the Economist
Nowhere in California is immune to recession, but the oldest areas are
proving most resistant. Of the ten counties with the lowest
unemployment rates, nine, including Santa Barbara, contain an
above-average proportion of people aged 65 or older. Youthful Los
Angeles has shed almost a quarter-of-a-million jobs in the past year.
Slightly older San Diego has lost a few thousand, while considerably
older San Francisco has lost none. A map of the state’s retirees could almost double as a map of economic resilience.
In the past ten years, obedient to the findings of urban sociologists,
American cities have tripped over themselves vying for young, creative
people. They have revitalised downtowns and sponsored gay-pride
parades. They might have been better off building retirement homes.
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