We’ve been reading good news about the Massachusetts economy overall, but that news doesn’t take into account the elevated poverty rates. The Mass. Budget and Policy Center paints a more detailed picture.
“A strong economy is one that works for everyone, including young and experienced workers, children and families, lower-wage and high-wage earners. Over the past year, the Massachusetts economy has continued to grow and the median income has inched upward, but despite these gains the statewide poverty rate remains stubbornly high and wages are still lower than they were in 2007, before the Great Recession.
“Historically, within a year or two of the end of a recession, the national poverty rate has begun to decline. But that hasn’t held true for the two recessions we’ve had since 2000 — not for the U.S. and not for Massachusetts. Today, nearly four years after the end of the Great Recession, our statewide poverty rate is 11.9%, which is substantially higher than it was in 2007, but still lower than the national rate.”
Read more here.