Federal Reserve Bank of Boston Releases Community Outlook Survey - December 20, 2011

Freezing salaries, sharing resources with other organizations, and working staff harder. These are some of the strategies respondents suggested New England’s service providers are using to maintain capacity to serve clients amidst strong increases in demand for services and funding cuts.

Job opportunities, state and local budget cuts, and cuts in federal spending, are the top three most important challenges facing lower-income communities. Additionally, household financial stability continued to decline in the third quarter with 65 percent of respondents suggesting the financial well-being of lower-income households declined over the period, while only 3 percent said it improved.

The Community Outlook Survey website contains tabbed “highlights” from this quarter’s report, a presentation for use by New England service providers as well as an archive of last quarter’s materials.  The report can be accessed here.