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Regarding government intervention and unemployment, on July 27, 2010 Mark Zandi & Alan Blinder jointly released the 23-page report titled "How the Great Recession was Brought to an End".
I found the report to be very bi-partisan (full disclosure: Mr. Zandi was actually Sen. John McCain's top economic adviser during the Senator's recent presidential bid).
In the report the gentlemen found that "...without the government’s response, GDP in 2010 would be about 11.5% lower, payroll employment would be less by some 8½ million jobs, and the nation would now be experiencing deflation."
In regards to unemployment remaining high for a long time, post recessions the unemployment rate has historically dropped about 1/2 of one percentage point per annum. At that rate, to drop five percentage points (from 10% to 5%) would take ten years.
So to get back to pre-recession levels of about a 5% unemployment rate, history would suggest that would occur sometime around the year 2020.
DALTON, Mass. — The town's popular Dalton Day festival is returning this weekend after a year's hiatus.
The event will kick off this Saturday at 11 a.m. and runs until 4 p.m. in the field in front of the Senior Center.
The community celebration was established in 2023 by the Cultural Council in an effort to increase resident participation at town meetings while also showcasing the area's welcoming, diverse, artistic and sporty atmosphere. In 2024, the event brought together 300 residents.
"The primary mission of Dalton Day is to foster a strong sense of community, build civic pride, and bring residents together through a shared celebration of local culture, music, and food," said Jeannie Ingram, Select Board member and cultural council chair, and Lori Venezia, executive assistant to the town manager.
The event provides an accessible and free platform for "civic education, community bonding, and supporting local businesses, artisans, makers, and culture more broadly," they said.
The festival strengthens the fabric of the town both civically and economically by connecting grassroots organizations with residents, fostering a shared sense of belonging, and providing free, family-friendly entertainment.
It also serves as an opportunity for community members to meet with local officials and a couple of state officials. State Sen. Paul Mark and state Rep. Leigh Davis will be coming from Beacon Hill to speak at the event.
Cassidy Flynn scattered five hits in a complete-game effort in the circle as Lenox upset top-seeded Hoosac Valley, 3-2, in the quarter-finals of the Division 5 State Tournament. click for more
Brayden Durant struck out seven and walked one in a complete-game effort on the mound Saturday to pitch the Drury baseball team to a 6-0 win over Keefe Tech in the quarter-finals of the Division 5 State Tournament at Joe Wolfe Field. click for more
Jason Codey struck out 13, walked two and allowed just an infield single as the Generals earned a 7-1 win over Wahconah to claim their third straight regional title. click for more
Gracelyn Wright struck out eight, and Genevieve Lagess went 3-for-5 with four runs batted in as the Hurricanes beat Monson, 17-3, to claim their first Western Mass title in four years. click for more
