'Without intervention, these losses will be much greater'
'Without intervention, these losses will be much greater'
The average U.S. student's lifetime earnings are projected to be six percent lower than they would have been otherwise due to learning disruptions due to the pandemic.
The picture in Massachusetts is even bleaker.
Bay State students are projected to have their lifetime earnings drop by nearly eight percent.
That’s according to a report released yesterday from the Massachusetts Business Alliance for Education (our chamber is an MBAE affiliate) and the Massachusetts Competitive Partnership
Learning loss would leave a significant mark on Massachusetts' economic growth. GDP over the remainder of the twenty-first century is expected to be two and a half percent lower as a result of the pandemic’s impact on student learning, resulting in a total economic loss of over $400 billion.
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The report outlines specific policy and budgetary recommendations in six areas designed to address these challenges.
But it includes a warning:
“It’s important to note that these projections are based on an assumption that student learning will swiftly return to normal—in other words, that the pandemic disruptions were a temporary blip that states will quickly correct with comprehensive solutions to accelerate learning and help students get back on track.
"Without intervention, these losses will be much greater,” the study warns.
Creem secures $50K to support restaurants and those in need
Creem secures $50K to support restaurants and those in need
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Nourishing Newton, a program that has provided over 11,000 meals for Newton residents facing food insecurity while supporting close to 40 independent Newton restaurants during slow winter months, will return early next year.
Now in its 4th year, the program is a partnership between the Charles River Regional Chamber and the Rotary Club of Newton and is funded by a $50,000 grant that once again was secured by state Sen. Cindy Creem.
We're very grateful to Sen. Creem for her continued support of this program which in recent years has purchased local meals distributed via the Newton Food Pantry, Centre Street Food Pantry, Welcome Home, Arabic Baptist Church, the Newton Senior Center, the West Suburban YMCA and other community organizations.
Per the conditions of the funding, this program is limited to independent restaurants in Newton. Apply.
Yes, Virginia, supply does reduce housing costs
Now in its 4th year, the program is a partnership between the Charles River Regional Chamber and the Rotary Club of Newton and is funded by a $50,000 grant that once again was secured by state Sen. Cindy Creem.
We're very grateful to Sen. Creem for her continued support of this program which in recent years has purchased local meals distributed via the Newton Food Pantry, Centre Street Food Pantry, Welcome Home, Arabic Baptist Church, the Newton Senior Center, the West Suburban YMCA and other community organizations.
Per the conditions of the funding, this program is limited to independent restaurants in Newton. Apply.
Yes, Virginia, supply does reduce housing costs
Is there a supply side skeptic on your holiday gift list?
You know, that guy or gal who continually argues that building higher-end condos or apartments doesn’t help reduce overall housing costs?
You may what to get them a copy of new report from the NYU Furman Center for Real Estate and Urban Policy which provides evidence to dispel the oft-heard myth.
“The report concludes that new housing construction triggers ‘chains of mobility,’ with those occupying newly-built units freeing up slightly less costly units where they previously lived, lessening the competition for those places," writes Michael Jonas at CommonWealth Beacon.
“That process, the report says, works its way down the income ladder, with one study from Helsinki showing that by the fourth such round, half the units being vacated are then occupied by tenants from the lower half of the national income distribution.”
Shuttle buses replacing Green Line D Branch
Shuttle buses replacing Green Line D Branch
Free shuttle buses are replacing trolley service on the Green Line's D branch between Kenmore and Riverside through next Wednesday (Dec. 20) so crews can work to remove those pesky slow zones.
And here’s something that should become permanent: During the diversion, express shuttles will run every 30 minutes directly from Riverside and Woodland stations to Copley in the morning and outbound during rush hour.
Tuesday grab bag
Tuesday grab bag
- Congratulations to Housing for All Watertown, a grassroots resident-led group founded earlier this year, for receiving the Rookie of the Year award from Abundant Housing Massachusetts.
- After months of waiting and preparation, the Massachusetts Department of Conservation and Recreation has started work on a road diet (lane reduction) and safety improvements to Hammond Pond Parkway. (Newton Beacon)
- The Carroll Center for the Blind has launched its first-ever full-scale capital campaign with a goal of raising $18 million to support campus and technology upgrades, enhance rehabilitation programs, add personnel and build an endowment. The Newton Centre nonprofit anticipates increased demand for services as the number of blind or visually impaired people in the U.S. doubles by 2050. Video.
- An estimated 4,000 home health care workers in Massachusetts are newly eligible to organize and join a union under legislation passed by the state legislature. (WBUR)
- Investment advisory firm Wellesley Asset Management is moving its headquarters from the Wellesley Office Park to Portsmouth, N.H. The firm will continue to have some employees at the local office. (BBJ)
- The West Suburban YMCA hosts an open house Friday (Dec. 15) to celebrate the first birthday of the Wells Ave Y at 135 Wells Ave, Newton. Enjoy tours, free classes and other activities.
- Two basic food groups -- cookies and donuts -- are now covered by new businesses at Arsenal Yards: Chip City and Blackbird Donuts.
- If you work in the real estate sphere, you're invited to join us at Lazzoni Furniture tonight.
- The Mass Life Science Center’s Workforce Development Capital Grant Program is now open. Grants up to $750,000 will be awarded for equipment, renovation, lab furniture, materials, supplies, and/or technology. Apply.
Needham to offer electricity aggregation purchasing
Needham is taking steps to launch a municipal electricity aggregation purchasing program that aims to offer cleaner electricity, stable electricity prices and new electricity options to Needham businesses and residents
While Needham Power Choice will not be able to guarantee lower prices compared with Eversource’s basic service prices, the town says it is committed to working toward providing prices that are competitive and stable for the long term.
Before launching the program, the town must submit an aggregation plan to state regulators for approval and is collecting public comment through Jan. 5.
When it comes to tipping, we just barely tip the scale
When it comes to tipping, we just barely tip the scale
Finally this morning, folks who dine out at Massachusetts restaurants are modestly better tippers at full-service establishments than diners nationwide.
But we're less generous on average at fast casual places.
That’s according to an analysis conducted by Toast which found that Bay Staters tipped 20.1%, at full-service restaurants, above the 19.4% percent nationwide average, writes Mike Deehan at Axios Boston.
But we’re cheapskates when tipping at quick-service restaurants, giving only 14.9%, below the 16.1% national average.
Pew recently built a interactive graphic to help gauge if you tip more, or less, than the average American.
That's what you need to know for today, unless you need to know if going outside with wet hair really will make you sick.
Greg Reibman (he, him)
President & CEO
Charles River Regional Chamber
617.244.1688
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P.S, Thanks to Historic Newton for digging out this newspaper ad published 100 years ago in the old Newton Graphic.
There were no Amazon trucks then but one century later, the support local message basically remains the same: "Do your shopping for the Holiday in your own home town."
There were no Amazon trucks then but one century later, the support local message basically remains the same: "Do your shopping for the Holiday in your own home town."
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