May 25, 2017

Total pay for MetroWest workers rises to $23 billion

Grant Welker
Natick's MathWorks software company is expanding on the former Boston Scientific site.

The amount of money earned by workers in MetroWest rose by $600 million in the 12 months ending in June 2016 to surpass $23 billion, according to a new report by the 495/MetroWest Partnership.

Workers in the region now bring home $1 of every $10 earned across the state, according to the report, which looked at U.S. Census, state workforce and other data.

The 35-community region from Natick to Shrewsbury and Westford to Foxborough employs 330,000 people, a yearly increase of just over 1 percent. Total payroll during that time rose by 2.5 percent. The area's unemployment rate also matches the statewide rate of 3.4 percent.

The report was released Thursday for the partnership's meeting in Westborough with local municipal officials.

A second report released Thursday by a state commission for MetroWest also gave a snapshot of growing and declining industries in the region.

The largest and fastest-growing segments measured by employment include biopharmaceuticals and medical devices, while information technology and analytics remains the largest segment but has been contracting, the 495/MetroWest Suburban Edge Community Commission found.

Growing segments also include small electronic goods, business services, food processing and hospitality and tourism. Construction and e-commerce have been flat, while insurance and financial services have contracted slightly.


Type your comment here:

Today's Poll What is the most important strategy Worcester should include in its master plan?<>
Most Popular on Facebook
Copyright 2017 New England Business Media