MassBenchmarks examines impact of revised employment numbers on state economic growth
Revisions to Massachusetts employment data have significantly altered how the Commonwealth's economic experience is understood in the aftermath of the Great Recession. The number of jobs added in 2011 (from December 2010 to December 2011) was revised downward from 40,700 to 9,100, resulting in state employment growth of just 0.3 percent for the year (down from 1.3 percent).
These numbers indicate a much less robust economic recovery than originally estimated. Incorporating the employment revisions into the MassBenchmarks Current Economic Index finds real gross state product growing 1.8 percent in Massachusetts for 2011, as compared to 1.6 percent for the U.S.
Read the MassBenchmarks Bulletin, Employment Revisions Change Our Understanding of Recent History (3/21/12)
March 21, 2012