There are good reasons to aim higher. Under that demographic forecast, Massachusetts would see a 1% decline in the resident labor force by 2035—a loss of nearly 50,000 workers. This is largely due to the annual net loss of roughly 25,000 working-age residents to other states. Labor shortages makes it difficult for firms to grow and thrive. And while remote work enables some firms to retain some employees moving out of state, it is not as conducive to the innovation and entrepreneurship essential to a robust economic future for Massachusetts. Some regions are facing even steeper declines in the working-age population. For all these reasons, it is important to create conditions that attract and retain young workers. If Massachusetts could retain just 10% of the young people who would otherwise move out of state—returning to the net domestic migration patterns of the early 2010s when Massachusetts was more competitive—it could maintain a growing labor force and population. This Competing and Growing scenario would require an additional 33,000 homes above and beyond the scenario requirements described.
[Description of the high-growth population scenario and associated housing demand]