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Full-Text Articles in Social and Behavioral Sciences
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Economic Currents: The State Of The State Economy, Alan Clayton-Matthews
Public Policy and Public Affairs Faculty Publication Series
The Massachusetts economy is recovering, but at a relatively slow pace that is consistent with the state’s experience coming out of the last recession. Job creation continues to lag, and the Commonwealth faces continuing economic challenges, including strengthening the technology sector and addressing worker migration.
A Groundhog Day Economy In The Bay State, Alan Clayton-Matthews
A Groundhog Day Economy In The Bay State, Alan Clayton-Matthews
Public Policy and Public Affairs Faculty Publication Series
The Bay State’s economic expansion peaked in December 2000, when the MassBenchmarks Current Economic Index, which is a proxy for gross state product, reached 150.2. But even before reaching that peak, warning signs were on the horizon. The MassBenchmarks Leading Economic Index, which forecasts changes in gross state product six months hence, turned negative in November 2000 and, except for one month, stayed negative for a year. The Current Index did not rise again until April 2003 and since then has risen at a stubbornly slow pace. While there have been eight successive quarters of growth in the Current Index, …
Massachusetts Recovery Stronger Than First Thought, Alan Clayton-Matthews
Massachusetts Recovery Stronger Than First Thought, Alan Clayton-Matthews
Public Policy and Public Affairs Faculty Publication Series
Massachusetts is still in the early stages of the recovery that began in the spring of 2003, but it may still be a couple of years more before it feels as if the recession is finally over. That “feel good” time will come only when unemployment is low enough for the state to achieve what economists call “full employment.” Currently, recent employment estimates from the payroll survey suggest that demand for the products and services supplied by Massachusetts producers is finally outstripping the ability of employers to meet that demand with existing employees. The result is that payroll employment is …