MassBenchmarks Journal

State economy approaching "full capacity" declares MassBenchmarks editorial board

From the intro:

"The Massachusetts economy is fast approaching full capacity. The state unemployment rate has fallen to below 3 percent, and is certainly lower in the metro Boston area. These tight labor market conditions could lead to worker shortages in certain occupations now or in the near future. Based on anecdotal reports from selected employers, wages appear to be rising rapidly for skilled manufacturing and construction workers, indicating a scarcity of qualified workers. Pockets of unemployment remain in the state, both geographically and structurally. The Gateway Cities have seen their unemployment fall, but their unemployment is still stubbornly above unemployment in the Boston area. Likewise, unemployment of those with a high school degree or less is coming down, but remains considerably above those with a college degree. As the labor market for qualified workers becomes ever tighter, the state faces the challenge of helping low-to-moderately skilled unemployed workers slot in to available job openings."

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