November 1, 2024
CommonWealth Beacon recently published an article on a new study completed by Mark Williams, Master Lecturer of Finance, discussing the vital role of immigration in driving population, labor force and overall economic growth.
The study adds to an existing body of research showing that immigrants become entrepreneurs at twice the rate of the native-born population, contributing to the economy through startups, job creation, generated revenue, and tax contributions. In this study, Williams highlights the less-known influence of immigration on the Massachusetts economy. As young adults aged 26 to 34 leave the state, the study underscores that immigrant inflow is “critical in countering the state’s outmigration trend.”
Williams also stated that a robust economy relies on a careful balance of labor availability, population growth, and workforce participation. While immigrants are helping to mitigate the drop in state population, he cautioned that economic challenges could deepen if the root causes behind people exiting the state remain unresolved.
View the full study here.
