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☆ Democrats wished the election was about jobs. Trump's win showed it was about prices.
▼ + stars: | 2024-11-08 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

While Democrats touted job growth under Biden, Trump won over voters facing high prices. "I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low, low crime and surging incomes for citizens of every race, religion, color, and creed," Trump said during remarks in September. BI adjusted 2021 amounts using Census-division-level inflation to understand how much real wages have changed across the US. Rhode Island had the highest real wage growth, just one of around a dozen states that saw an increase. Real wages massively fell in costly Washington, DC; even before adjusting for inflation wages were roughly flat.

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In midsized metros Metros with 250,000 to one million residents. An Emerging Divide Mobility has risen for college-educated workers, even as it has fallen for workers without a degree. College-educated workers leaving the most expensive parts of the country are also not spreading out equally everywhere — or even going to parts of the country that are struggling. Net migration among college graduates Loss Gain Among the 12 most expensive metros, net college migration has generally declined or turned negative. “Consumer cities,” as she puts it, are increasingly replacing “producer cities” as the places where college graduates want to live.

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