Latest MassBenchmarks examines impact of state's aging population
The latest issue of MassBenchmarks, the economic journal published by the UMass Donahue Institute in cooperation with the Federal Reserve Bank of Boston looks at how Massachusetts’ changing demographics influence the state’s economy.
The article, “The Great Massachusetts Migration” by Robert Nakosteen and Susan Strate examines the Commonwealth’s aging population, immigration rates and worker education levels and how those factors will impact continued economic growth.
Henry Renski, author of “Planning for the Silver Tsunami,” explains how the aging of the state’s population will increase the Commonwealth’s reliance on its institutes of higher education and vaunted innovation economy to draw and retain a young, highly educated citizenry; as demand for services such as elderly housing, geriatric health-care, and expanded public transit options is anticipated to grow.
In the issue’s Endnotes, Alan Clayton-Matthews looks at how the state’s unemployment rate is measured, highlighting the profound challenges faced by those for whom job opportunities have been scarce in recent years.
The full issue is available online here.
March 29, 2014