Many cities have rebounded since the great recession, but there are still other places struggling to prosper.
Ben Schiller of Fast Company writes there's a separation between successful of parts of the country and non-successful parts. A new report from the Economic innovation Group says more than 50 million Americans live in "distressed" ZIP codes, this includes Cleveland, Oh., Detroit,MI,and Newark,NJ. Typically, "distressed" cities are those in the bottom 20% of ZIP codes, and nearly a quarter of adults in these areas do not have a high school degree.
"From 2010 to 2013, the most distressed 10% of ZIP codes lost 13% of their jobs and saw more than one in 10 business establishments close," the report says. "During that same period, the most prosperous 10% of ZIP codes saw employment rise by a staggering 22% and the number of business establishments rise by 11%."
"The United States is still a land of opportunity for many. But when it comes to life outcomes, geography is too often destiny," the report says.