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Introduction
This summer, our student-led team (Tashi Dorji, Sandra Rafeh, and Caroline Pietroski, all third-year undergraduate students in Economics) were hired by the New Brunswick Institute for Research, Data, and Training (NB-IRDT) to participate as student researchers in the 2021 Pathways to Professions (P2P) program and comprise the BoostNB team for the summer of 2021. P2P is a 13-week experiential learning program developed by NB-IRDT that allows post-secondary students to work as part of a research team while attending sessions on research methods and job readiness skills.
What is BoostNB?
Over the past two years, BoostNB has run as a project stream inside P2P under the leadership of Dr. Herb Emery, Vaughan Chair in Regional Economics at UNB. The BoostNB project is a dashboard of economic indicators that provides detailed, fact-based information about New Brunswick and its economy. BoostNB measures the progress of the NB economy based on OneNS targets scaled for the size of New Brunswick – as well as NB-specific targets not found elsewhere.
Our work
We spent the first part of this past summer updating old excel files with the most current open-source data to verify past findings and update NB’s progress toward meeting economic goals. We performed calculations, updated graphics, re-formulated reports, conducted literature reviews, and had the opportunity to present our findings to multiple stakeholders throughout the program. We also added new socioeconomic indicators to BoostNB to determine their role in the NB economy. In particular, we addressed the topics of homelessness, life satisfaction, and greenhouse gas emissions in the province.
After updating NB’s progress toward 21 economic goals, we found that eight were progressing, eight were not progressing, and others were uncertain or not updated due to lack of data. NB will only see sustainable economic growth if it can increase the number of goals progressing. Our new findings show that New Brunswickers appear content and satisfied with their lives. If NB can capitalize on its high life satisfaction, we see the potential for NB to further attract and retain more individuals in the province, benefiting the economy. One aspect of improving life satisfaction can come from decreasing levels of homelessness and poverty across the province. If NB can reduce homelessness to a functional zero and overcome poverty, our youth can thrive.
Conclusion
Worldwide, there is an emphasis on limiting greenhouse gases to mitigate climate change and preserve the planet for future generations. New Brunswick can be seen as a leader in this field and provides a good example to follow. Reducing emissions poses challenges to the economy, but this can promote economic growth in the long run when done correctly. By encouraging further reductions within NB and across the world, New Brunswickers will be able to enjoy all the province has to offer for many years to come.
Reflection
BoostNB has given us a platform to make positive changes within our community. We have discovered a new love for our province and a passion for contributing to its success for future generations through research. Comprehensive summaries of all the economic goals are available at www.boostnb.com in the form of individual reports. We encourage all to do their part to ensure that New Brunswick continues to be the unique Maritime province that it is while pushing boundaries to allow future generations to flourish.
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