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Disney Hits Lowest Since March 2020 After Tepid ‘Avatar’ Debut
Mondelez Sells Gum Business to Perfetti in $1.35 Billion Deal
The Lowest Pay Workers Would Accept for a New Job Nears $74,000
Job Vacancies Fall 3.3% in Canada, First Quarterly Decline Since Pandemic
Orban’s Food Price Caps Backfire for Hungarian Holiday Shoppers
Mondelez Sells Gum Business to Perfetti in $1.35 Billion Deal
Uber Strike Fizzles in New York With Plenty of Cars on Road
Twitter Users Vote for Elon Musk to Step Down as CEO
CVS, Walgreens Limit Kids’ Pain and Fever Medicine
Facebook’s Meta Will Devote 20% of Costs to Metaverse Next Year
China’s Covid-19 Outbreak Has US Worried About New Variants
Marijuana Banking Bill Excluded From Year-End Spending Measure
Law Firm Kirkland & Ellis Expands to Miami With Big Office Lease
Citigroup’s $900 Million Revlon Blunder Ends With a Dismissal After Bank’s Victory
An EV Buying Guide for People Fed Up With Tesla’s Elon Musk
Justin Bieber Urges Fans Not to Buy His Own ‘Trash’ Merchandise at H&M
Why the Fed Needs to Take the Digital Yuan Seriously
Jan. 6 Committee Is Right to Defend the Rule of Law
Elon Wants Some Twitter Help
The Future of Work Is Lunch
Hollywood Loves Its Never-Ending Blizzard of Cheap Christmas Movies
Seven Takeaways From Businessweek’s Cocaine-Smuggling Cover Story
Uber Strike Fizzles in New York With Plenty of Cars on Road
Peloton Promises to Crack Down on Explicit Spam Accounts
Wind Power Giant Will Make Green Shipping Fuel at Big Plant in Sweden
Fund Bosses Vent ‘Mass Frustration’ as ESG Tumult Grips Industry
NYC Subway May Trim Monday, Friday Service
Biden Administration Calls for 25% Cut in Homelessness by 2025
The (Slowly) Changing Face of Europe’s Mayors
Jane Street Culture: A View Into SBF’s Roots (Podcast)
Crypto.com’s World Cup Win Is Overshadowed by FTX Industry Chaos
Binance, Alone at the Top After FTX, Stirs ‘Too Big to Fail’ Crypto Worry
With the home becoming an increasingly acceptable office for white-collar employees, new graduates won’t have to make a beeline for the big city to find high-paying jobs.
Remote work is an economic development plan.
Photographer: Luke Sharrett/Bloomberg
Conor Sen
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It's now been two years since the rise of remote work enabled people to start moving out of the big cities, transforming the geographic demography of the United States. And while the initial beneficiaries were vacation destinations in the mountains and by the water, that growth model isn't likely to last. Housing costs and labor shortages are limiting how many wealthy migrants can move to places like Montana or Lake Tahoe.
For remote-work destinations to be sustainable, they need to accommodate both well-off migrants and the working-class population already in those communities. That adds up to an opportunity for many college towns. The smaller municipalities often are desirable places to live and already have stable local economies driven by higher education activities. But at the same time, many haven't had the kinds of employment opportunities for college graduates that larger cities do.
