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For Immediate Release
DEMOGRAPHIC AND HOUSING TRENDS EXPERT SAYS CONNECTICUT IS FACING A GROWING WORKFORCE SHORTAGE
Connecticut faces steep declines in economic growth and quality of life if it does not address the consequences of the aging of its population and loss of young workers. That was the message from the founder of American Demographics magazine, who spoke at the Housing, Population Trends and Future of Connecticut Conference at The Lyceum Resource and Conference Center in Hartford on Friday. Peter Francese, principal demographic forecaster for the New England Economic Partnership, told a group of state and municipal policymakers, business executives, academic officers and economists that demographic trends in Connecticut portend a difficult future unless state and local policies are changed to reverse those trends. Francese, the co-author with Lorraine Stuart Merrill of “Communities and Consequences,” a related look at similar trends in New Hampshire, said Connecticut's 18- to 64-year-old working age population is expected to decline between now and 2030, while its elderly population, people over the age of 65, will increase 70%. As a result, the number of workers per elderly resident will decline by more than 40%, raising questions about the state's ability to produce a labor pool of skilled workers and generate the tax revenues it needs to support its aging population and infrastructure. "I can't be too forceful or too blunt when I say this: Connecticut has a huge problem coming down the road,” Francese said. Noting Connecticut 's distinction as the state that lost the most 20- to 34-year-olds between 1990 and 2006, Francese said efforts must be made to keep and attract new young workers and families. He said creating a greater supply of starter homes and affordable rentals would help lower the cost of living for college graduates and make it more likely they would stay or come to the state. Connecticut has begun to put more resources into affordable workforce housing as a way to reverse these trends, however more needs to be done. "In 2006, the median sales price home in Connecticut was five times the median income of a 25- to 34-year-old worker,” Francese said. “If you're burdened with school debt, your calculation is purely economic. You can't afford to take out a huge loan to buy a house in Connecticut . So you move.” Francese said Connecticut is already feeling the effects of losing a large percentage of its younger workforce. Businesses are having difficulty finding workers, he said, as are municipalities seeking teachers, volunteer firefighters and other key employees. Meanwhile, families are seeing their young adult children move away because they cannot afford to buy a home in the towns they grew up in. "The bottom line for Connecticut is really quite simple: hang up a sign that says we invite young people to move to the state and create the housing they can afford and invite the businesses who can enjoy the new labor pool. But without new population growth, Connecticut can't expect job growth, economic expansion or a bright future,” said Francese. The conference was sponsored by The Partnership for Strong Communities, the Connecticut Business & Industry Association, the Connecticut Association of Realtors, Konover Development Corp., Connecticut Economic Resource Center Inc., Fairfield University, Home Builders Association of Connecticut, the Connecticut Department of Economic and Community Development and the Connecticut Housing Finance Authority. ### For more information contact Nancy Andrews, CBIA media relations manager, at 860-244-1957 or andrewsn@cbia.com. 350 Church
Street · Hartford, CT 06103-1126 · cbia.com/newsroom
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