Editorial: Mass. must act fast to boost private job growth — or else

A new statement puts Massachusetts politicians on notice get a grip on housing costs and taxes or the state is in for a world of hurt According to a approach brief from the Pioneer Institute while nearly every state has expanded private sector employment since the onset of the COVID- pandemic Massachusetts has seen a net decline in private sector job rise This puts the state s economic strength and long-term prosperity at serious hazard Bureau of Labor Statistics material shows that Massachusetts private sector employment has contracted since January while states such as Florida North Carolina and Texas have each seen private sector job rise The nation is growing jobs but we are losing them mentioned Jim Stergios Pioneer Institute s executive director There is no clearer and no more troubling economic signal And Mass pols need to sit up and take notice without more private sector jobs who s going to pay all those citizens sector salaries A look at the mass gov website shows that in January of this year regime jobs were added while were added over the year Must be nice Of unit you d need a administration job with a plush paycheck to afford the housing costs and high prices in Massachusetts The outlook for the rest of us isn t so good if these trends continue The Pioneer Institute warns of far-reaching implications including rising economic inequality reduced opportunities for residents diminished stake and innovation and an increasing outmigration of talent and businesses to states with stronger job markets and lower costs of living That s already happening We ve read the reports on outmigration from the Bay State to lower-cost lower-tax states Who can blame them In Raleigh NC a roomy -bedroom will set you back Try that in Boston State taxes are lower there too How can Massachusetts compete To secure a prosperous future we need bold decisive action to create an economic milieu that allows both individuals and businesses to thrive commented Aidan Enright who wrote Massachusetts at Threat The Alarming Decline of Private Sector Employment Development for the Pioneer Institute That means Enright says tax amendment regulatory improvements strategic workforce investments and aggressive housing improvement policies We ve had aggressive housing policies in recent months but they involved securing shelter spaces around the state for the influx of immigrants under the Biden administration and homeless local families We paid about billion to cover the costs in fiscal year and particular million so far in fiscal year As the number of private sector workers shrink that puts even more of a squeeze on the state s remaining taxpayers This news couldn t come at a worse time as a Wall Street Journal document underscored how fiscally damaging empty office buildings in Boston could be to the city s bottom line Continued downward pressure on commercial values would shift more than billion of Boston s tax burden to homeowners over the next five years according to a overview from the nonprofit Boston Plan Institute the WSJ description states Those increases would be on top of additional tax hikes various owners face because their homes have risen in value The writing s on the wall Massachusetts lawmakers need to act fast to keep the Bay State from sinking Editorial cartoon by Gary Varvel Creators Syndicate