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Print Edition StoriesWednesday, March 17, 2010
Policy Tracker
ARRA jobs update; Vacant jobs out of reach to many workers
MHT's Jackie Noblett: Lessons from the 2007 IPOs
MHT's Jackie Noblett: VC funds run short in 2009
MHT's Galen Moore: Cambridge Innovation Center celebrates 10th anniversary
Jobs: ARRA update
In a letter to his constituents, U.S. Rep. Edward J. Markey wrote: “The Recovery Act is working for you and for others in our community.” Here are excerpts:
“Creating Jobs: By the end of 2009, the nonpartisan Congressional Budget Office estimated that the Recovery Act was responsible for creating or preserving as many as 2.4 million jobs, including an estimated 53,000 jobs in Massachusetts. Incentivizing Innovation: To create 21st century jobs and lay a new foundation for our economy — stronger, more globally competitive, and spreading prosperity to more Americans, the Recovery Act includes historic commitments to: Renewable energy production, energy efficiency, and a smart grid; electronic medical records and cutting-edge medical research; K-12 education reforms to make sure our children can compete in the world economy; high-speed rail and more efficient transportation; broadband and wireless Internet.
"Just before President Obama took office, America’s GDP fell by 6.4 percent. By the end of 2009, our economy grew by 5.7 percent, the fastest three-quarter swing in almost three decades. Economists of all political views acknowledge that the Recovery Act played a significant role in turning things around."
— U.S. Rep. Edward J. Markey, 7th District of Massachusetts
Report: Vacant jobs out of reach to many workers
As unemployment hovers at near-record levels, jobless and low-wage-earning Massachusetts residents are often unqualified for thousands of vacant jobs, according to a new report.
Although there are more than 50,000 job vacancies in Massachusetts, nearly half of the state’s 3.2 million-person work force lacks the necessary education to fill them, according to the Crittenton Women’s Unions “Hot Jobs 2010” report, released last week. More than 40 percent of the vacant jobs, according to the report, require less than a four-year college degree, but more than a high school diploma. By steering workers toward programs that prepare them for these jobs, and toward employers that often help fund education or child care, the state can help employ many of the 330,000 residents without jobs, as well as help low-earning families find better-paying jobs, said Elisabeth Babcock, president of the Women’s Union.
— Statehouse News Servi
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