State's Recovery Fragile, Slowing
Despite outpacing the nation in job growth and a relatively strong tech sector, Massachusetts is still 200,000 jobs shy of levels recorded nearly 10 years ago, according to the latest MassBenchmarks report.
MassBenchmarks said that while the state is adding jobs at the fastest pace in decades, that growth may not be sustainable.
As the state came out of the recession in the spring of 2009, businesses began restocking inventories, "but the past few months have seen the end of the restocking cycle," according to the report.
Additionally, demand for housing and durable goods remains low.
The MassBenchmarks report also warns that outside metropolitan Boston, jobs continue to be lost, especially in older urban centers like Lawrence, Lowell, Fall River, Fitchburg and Leominster.
If the national economy remains weak, the state's economy will likely experience a slowing rate of growth in the next few months.
WBJ Web Partners
Most Recent
Most Recent
0 Comments