Massachusetts economy slowed in Q2 despite strong labor market
The MassBenchmarks project today released its analysis of the last quarter's performance of the Massachusetts economy.
Economists are somewhat baffled by the mixed messages about the Massachusetts economy.
On the one hand, the state’s labor market remains strong. The 3.7% unemployment rate is even lower than it was in March at 4.3%.
But the amount of goods and services workers are producing is slightly decreasing. In Massachusetts, real GDP fell by 0.2% in the second quarter, a bit less than the 0.9% drop nationally.
“It's very strange that we have such strong job growth at the same time we're having negative output growth,” said Alan Clayton-Matthews, who co-authored the latest MassBenchmarks report from the UMass Donahue Institute. "That is something new."
Read article: Massachusetts economy slowed in Q2 despite strong labor market
August 29, 2024
