Revenue forecasting processes in New England
State governments creating their budgets are concerned about available revenues. The basis of a successful budget is a sound revenue forecast. How states arrive at this forecast is both a science and an art and the approach differs markedly among states. This policy brief responds to the dearth of readily accessible information about states? revenue forecasting processes by describing, comparing, and contrasting the revenue forecasting processes of the New England states.
The supply of recent college graduates in New England
This policy brief investigates factors affecting the region's supply of recent college graduates and how those factors have changed over time, and suggests steps that states might take to expand this source of skilled labor. This brief summarizes analysis in NEPPC research report 08-1: The Future of the Skilled Labor Force in the Region: The Supply of Recent College Graduates.
Uncertain futures: are American youth increasingly idle?: think again
Continued high unemployment and low labor force participation among U.S. youth have led many observers to question what the future path of employment will look like for younger workers. Of particular concern is the share of the youth population that is idle, or what is technically termed ?not in employment, education, or training? (NEET). These individuals are particularly vulnerable to continued adverse labor market outcomes and their prolonged detachment from the labor market may result in significant individual and social costs. This policy brief details trends in youth labor market ...
Can young professionals afford to buy a home in New England?
This policy brief explores whether young professional households can afford to own a home in New England. These are defined as households headed by a 25-39 year old with at least a BA and not currently enrolled in school. The analysis relies on two measures: (1) housing burden, defined as the percentage of household income spent on housing costs, and (2) income adequacy, defined as the ratio of household income to the income needed to purchase a home.
Measuring non-school fiscal imbalances of New England municipalities
Local jurisdictions differ in the per capita costs that they must incur to provide a standard quality and quantity of municipal services at average efficiency. These cost differences are attributable to local social and economic characteristics or circumstances that are outside the control of local government.
Evaluating business tax credits: reading between the lines
This policy brief provides guidelines for critically evaluating and interpreting empirical studies of state business tax credits. This brief summarizes analysis in NEPPC discussion paper 09-3: State Business Tax Incentives: Examining Evidence of their Effectiveness.
The middle-skills gap: ensuring an adequate supply of skilled labor in northern and southern New England
Recent evidence suggests that a mismatch between the skills demanded by employers and the skills supplied by the population may be underway, particularly for ?middle-skill? workers who possess some college education or an associate?s degree. This policy brief examines the middle-skill mismatch in New England, comparing recent labor market trends and future projections for the northern versus southern subregions. The analysis finds that the nature of the mismatch varies within the region, indicating that policymakers should tailor their potential responses as opposed to taking a uniform ...
The changing housing market: a bang or a whimper?
The U.S. housing market has had an extraordinary 15-year run in terms of prices, sales of existing homes, and new construction, especially on the East and West Coasts. Beginning in the spring of 2006, however, the housing market began to turn distinctly downward. We know that 2005 was a good year and that 2006 has not been such a good year, and we see indications that 2007 could be tough. To help understand why the market has shifted from hot to, at a minimum, cool, this paper, which is the first in a series of NEPPC policy briefs on housing, recaps some of the factors that contributed to ...
Who are the uninsured, and why are they uninsured?
Since 2000, the number of uninsured Americans, both nationally and in New England, has risen by nearly 20 percent. In 2005, 46.6 million Americans and 1.5 million New Englanders lacked health insurance. For millions more Americans, the prospect of losing coverage is a tangible and real concern.
A guide to state debt affordability studies: common elements and best practices
Policymakers must carefully balance a state's capital needs with efforts to keep debt levels affordable. To help weigh these competing concerns, a number of states routinely prepare formal debt affordability studies. By exploring the purpose of such studies, their common elements, and best practices, this policy brief aims to provide guidance to states that are developing or re-examining their own debt affordability analyses.