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At the Mainebiz "Five on the Future" forum Tuesday morning, Jeffrey Fuhrer, senior policy advisor at the Federal Reserve Bank of Boston, shared data showing how the neighborhoods where people grow up affects their median income later in life. To illustrate the point, he presented case studies from Lewiston and Mobile, Ala., showing the income gap between pairs of people who grew up in each city.
"So much of economic destiny depends on where you were born" and local circumstances, he said.
Fuhrer underscored the need to help people left behind economically but noted that that the effort needs to be grounded in research and data.
At the Mainebiz "Five on the Future" forum Tuesday morning, Jeffrey Fuhrer, senior policy advisor at the Federal Reserve Bank of Boston, shared data showing how the neighborhoods where people grow up affects their median income later in life. To illustrate the point, he presented case studies from Lewiston and Mobile, Ala., showing the income gap between pairs of people who grew up in each city.
"So much of economic destiny depends on where you were born" and local circumstances, he said.
Fuhrer underscored the need to help people left behind economically but noted that that the effort needs to be grounded in research and data.
People need to be responsible for what they have and what they do and don't do as adults. Stop making excuses for where you were born, what gender you are and how disadvantaged you are. We are responsible for our own happiness as well as our own success. For example, it may take a little longer to get a degree if you have to work to pay for it yourself, but you can do it. Maybe there is a field you would like to go into but it is predominately filled with people who are the opposite gender you are ... well it may take time to change some minds, but put in the effort and change their minds. Pave the way for the next person instead of whining about how unfair it is.
It is probably true in the sense that a lot of people settle in the place where they grew up, and some places have more or less economic opportunity than others. But this is not so much about where they were born as it is about where they choose to stay.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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There are confounding factors that impact where you were born such as education. It's very hard to even go to college or uplift yourself without good education, with varies wildly with geography.