MASSACHUSETTS (WAMC) – Massachusetts is weathering the economic downturn better than most states, that’s according to a new report released by the Massachusetts Budget and Policy Center. WAMC’s Berkshire Bureau Chief Charlie Deitz reports that the reason for the state’s performance is its’ commitment to higher education over the last three decades.
The gap between projected state spending needed to maintain state services and available revenues next fiscal year is just shy of $1.8 billion, according to a preliminary analysis released Tuesday morning by the Massachusetts Budget and Policy Center.
Massachusetts has fared better than most states during the recession but will face “enormous fiscal and economic challenges” in the years ahead, according to a report released Sunday by the Massachusetts Budget and Policy Center.
During the recent crisis, Massachusetts lost fewer jobs than most states and maintained higher wages, all while avoiding a significant increase in poverty, according to “The State of Working Massachusetts,” a report prepared by the Massachusetts Budget and Policy Center, a nonpartisan think tank that studies economic issues.
Thanks to its colleges and universities, Massachusetts has one of the best-educated, best-paid workforces in the nation, but a new study shows the gap between the haves and have-nots has widened–especially during the recent recession.