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Financial Services Jobs Move Away From Wall Street
A study finds that financial services jobs are growing the fastest in low-cost Sun Belt cities, which have lower taxation levels and more affordable housing than the traditional money centers.
The financial services sector, which employs 7.9 million people across the U.S., has seen a majority of jobs migrate to places where employment, tax, and living costs are lower. The Phoenix metro area, where the number of financial services jobs have increased 12.3% since 2008, tops the study’s list. The four other metros rounding out the top five are San Antonio-New-Braunfels, TX, Austin-Round Rock-San Marcos, TX, Nashville-Murfreesboro-Franklin, TN, and St. Louis, MO. Salt Lake City was seventh on the list.
Read more at New Geography