Region: United States
New sources of labor should be top of mind for CEOs as they contemplate protracted labor shortages. These shortages will hit most industries, pinching profits and prolonging the economic slowdown. . . An unprecedented confluence of trends—historically low productivity growth and massive baby boomer retirements—has set the stage for shortages that will hit across regions and industries.
The Index of the Massachusetts Innovation Economy, published annually since 1997, is the premier fact-based benchmark for measuring the performance of the Massachusetts knowledge economy.
California's current housing market suffers from a shortage of supply and the lingering effects of the housing crash and the Great Recession. California currently ranks near the bottom in terms of its supply of housing relative to population growth. Add that to the increasing demand to live near the coast, to be close to tech hubs, and to be near downtowns, and it's not too surprising that home prices throughout the state continue to rise. Additionally, the cost of development and stringent regulations imposed on developers has contributed to the lack of homebuilding in California.
In recent years, California has experienced negative domestic migration, meaning more people are moving from California to other states than the number of residents moving to California from other parts of the country. Statistics on the characteristics of California's inbound and outbound migrants suggest patterns in migration over the past decade are more related to housing costs than tax structure.
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