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To be competitive in the 21st century is to have a highly educated labor force, one with college and advanced degrees.
These metros are all home to top-ranked colleges that churn out a steady crop of highly educated labor.
Talk about polarization: This area has the highest business costs of our top ten metros (6% above the national average), but a highly educated labor supply (42% have college degrees).
As such economies have highly educated labor force; another important dimension is transfer of specific knowledge, know-how and technology that FDIs bring to the domestic economy and influence local firms' competitiveness.
The lack of the pattern of "formal recruitment with informal selection" in my interview data thus shows that within the context of labor oversupply in urban China, especially the oversupply of the highly educated labor force, certifiable qualifications cannot be completely overlooked in the selection stage.
For most of the 20th century, we were far ahead the rest of the world because of our comparatively highly educated labor force and most of the rest of the world, including our current competitors, was very poor.
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Hence unskilled (resp., non-educated) labor becomes a worse substitute for skilled (resp., educated) labor as quality increases.
Fourth, the paper is related to the literature on the effects of a highly educated workforce on labor productivity.
"Increasing the education level of workers also increases their productivity, and the more highly educated a state's labor force, the more attractive is that state as a place to locate businesses," the report says.
While the Professional Staff Congress is not as big or as organized as many labor groups, its highly educated membership is considered one of the more vociferously liberal and best informed in Democratic circles.
In 2005, the Boston Federal Reserve reported these data in an article subtitled "Declines in labor force participation for highly educated women".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com