A rising tide actually drowns a lot of people:
When such cities as Atlanta and Charlotte enjoyed a job surge in the 20 years that began in 1990, for example, the job gains mostly bypassed residents — often African-American — who had been born into poverty. That is among the findings of a study led by Raj Chetty, a Harvard economist whose newly launched Opportunity Atlas found no association between job growth and economic mobility for poor residents of the affected areas.
“Job growth is not sufficient by itself to create upward mobility,” Chetty said. “It’s almost as though racial disparities have been amplified by job growth.” His finding challenges much of the conventional thinking, of government officials, business executives and economists, that job gains are the surest way to lift up people in impoverished communities.
I think one of the biggest mistakes many government officials make is placing high value on high average salaries, when it comes to recruiting businesses using incentives, anyway. Said company might "create" 300 good jobs, but when 85% of those jobs are taken by people moving to the area for just that reason, what has that accomplished in reducing local unemployment? Not a whole lot. And the more professional skills and certifications those jobs require, the less value to the community that new business represents. I realize many reading this may not agree, but take a quick look at your zip code before attempting to correct me: