Part 1 of this blog series used data from the Opportunity Insights project to show that children raised in Montgomery County were able to move further up the economic ladder than children growing up in other parts of the United States. However, the blog also showed that there is a strong correlation between economic mobility and race and ethnicity, and it suggested that, depending on how the population is divided, the prosperity of places does not always coincide with the prosperity of the people living in them. This blog explores these issues in more detail by focusing on the county’s neighborhoods and shows that economic mobility across the County and within neighborhoods differs significantly based on race and ethnicity.
Montgomery County Planning works to create thriving places across the county. This goal is reflected in our proposed General Plan update, Thrive Montgomery 2050, master plans, functional plans, and other special studies.
But how do we know if a place is indeed thriving? We often use publicly available data from agencies like the U.S. Census Bureau and the U.S. Bureau of Labor Statistics to analyze shifts in key indicators of an area’s economic vitality.
Now let’s zoom in on the map and ask a deeper question: do thriving neighborhoods help the people living in them to thrive? Put another way, do neighborhoods thrive because the people living in them improved their economic status, or because people of higher … Continue reading
Keys to Building Economic Resilience in Montgomery County Post-Pandemic
As we await post-pandemic life and speculate about our economic future, the idea of economic resilience—how quickly and easily we as individuals and society can adapt to and recover from a devastating economic blow—is on everyone’s minds. So let’s examine the idea of economic resilience: what the term “resilience” means for a local economy, what characteristics and conditions make local economies resilient in the face of economic challenges and how Montgomery County can position itself to be more resilient.
Local Economies, Adaptive Resilience, and Relationships
Economic resilience is adaptive resilience. This is different from the type of resilience we expect from our physical infrastructure, which “bounces back” to normal functioning … Continue reading
Several weeks into the COVID-19 pandemic, it has already become cliché to say that we are living in unprecedented times, but it is still too early to understand exactly how severe the economic damage will be, and how it will effect Montgomery County and its residents. While hundreds of thousands are already suffering the direct health effects of the COVID-19, the indirect economic fallout from the near closure of the economy is also becoming apparent. From the weeks ending March 21 through April 11, over 22 million people filed for Federal unemployment insurance in the U.S., including over 38,600 people in Montgomery County. This volume has far surpassed all previous records. The $350 billion Paycheck Protection Program created by … Continue reading
Fears of robots replacing humans are overblown. A diverse and adaptable economy is key to keeping Montgomery County competitive and equitable.
There has been no shortage of foreboding warnings in the media about the economic and social dangers posed by robots and artificial intelligence technologies. With titles like “The Robots are Coming,” “The Rise of the Robots” and “The Robocalypse,” this coverage has sparked collective anxiety over the future of work and whether human labor will eventually be displaced in an automated economy.
However, technology is not destiny. With thoughtful, proactive planning, the harmful consequences of 21st century technology can be avoided and opportunities for increasing fulfillment at work, income equity and quality of life can be seized.
This … Continue reading