Worcester economy grows; adds healthcare, construction jobs

Worcester's economy continues to grow.

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By Sam Bonacci

The Worcester economy has bounced back to a sluggish end to 2015 with a second strong quarter, with the area adding jobs and the unemployment rate dropping to 4.5 percent, according to the Worcester Economic Index (WEI).

The quarterly economic analysis by Assumption College Professor Thomas White released Tuesday found both payroll employment and household employment have increased while the local unemployment rate has fallen. Using U.S. Bureau of Labor Statistics (BLS) data, employment rose by more than 1,400 employees since March. The unemployment rate fell to a seasonally-adjusted rate of 4.5 percent in June, down from 4.8 percent in March.

Among the jobs added since last June, health care contributed the most with 2,000 new jobs. However, the construction sector grew by the highest percent, adding 900 jobs for 8.7 percent growth.

However, it was not all good news, with Massachusetts initial unemployment claims having increased 7.2 percent, while online help-wanted advertisements continue to dip, down 25.8 percent from this time last year, according to White. However, the professor is bullish on the Worcester economy, expecting 2-percent growth through the end of the year, noting that new business incorporations within the Worcester area are up 15.1 percent in the quarter.