It’s a trend that can be linked to the pandemic and the rise of remote work. But it also underscores deeper concerns that Boston-area business leaders have long held, particularly since the Great Recession hit in 2008.
The city has long been a financial services hub. It’s the birthplace of the mutual fund and the center of banking in New England. But industry consolidation, automation, and the high cost of living have gradually chipped away at that status. The ranks of people working in financial services in Massachusetts have stagnated, never getting back to the peak of 192,000 jobs seen