A new report out today from the Massachusetts Taxpayers Foundation (MTF) presents clear and comprehensive data demonstrating that an aging and declining population reduces the size of the state’s workforce, putting the Massachusetts economy in jeopardy.
The data show that the state can no longer passively rely on the reputations its higher education and health care sectors to attract sufficient talent to meet the demand of and elite and expanding economy.
MTF President Eileen McAnneny stated “systemic changes to the economy since the pandemic affecting all sectors, combined with troubling demographic trends, are causing the state’s talent pipeline to contract. Policymakers must proactively work to reverse this trend by making Massachusetts a more affordable and competitive place to be in order to ensure the Commonwealth’s future economic growth. Gone are the days we can count on Massachusetts’ exceptionalism to attract the best and the brightest.”