A program of the Economic and Public Policy Research Group at the UMass Donahue Institute
in collaboration with the Federal Reserve Bank of Boston

Notes from the Board

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The expansion of the Massachusetts economy continues but inequality and concerns about sustainability persist.

The expansion starting in August of 2009 is far advanced, but recent growth has been the fastest since the start of the recovery. Gross state product is growing robustly, and on a percentage basis state employment growth is very strong. Feeding this expansion is a robust growth of the state's labor force. Given the demographic profile of the state, with an older-than-national work force with a slow natural rate of growth, the expansion in the labor force experienced of late is puzzling. The members of the MassBenchmarks editorial board discussed all of these issues and others weighing on the economic outlook for the Commonwealth at its most recent meeting.

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