How local are labour markets? A look at the London Olympics
Alan Manning, Barbara Petrongolo 03 August 2012
Will the London Olympics provide a major boost for employment in Stratford, as promised? This column presents evidence from a study in the UK, which, if applied to the Olympics, suggests that we shouldn’t count on it – many of the jobs will go to other Londoners.
How local are labour markets? A number of important questions in labour economics hinge on the answer.
In recent years there has been a resurgence of interest in the consequences of localisation of economic activity for workers' welfare (see Moretti 2011, for a recent overview) and in policies aimed to improve labour market outcomes in disadvantaged areas (Glaeser and Gottlieb 2008).
unemployment, Olympics, jobs, local labour markets