Boston Business Journal: Federal budget cuts contribute to big slowdown in Mass. economy
The Boston Business Journal summarized the findings of the latest MassBenchmarks bulletin on the state of the Massachusetts economy. During the second quarter of 2103, the Commonwealth’s economy grew at an annual rate of less than one percent, compared to the nation’s 1.7 percent growth rate.
At the same time, the state’s unemployment rose to 7 percent, up from 6.4 percent in the previous quarter. The U.S. unemployment rate hovered at 7.6 percent during the same period.
July 31, 2013