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Michael D. Goodman, Ph.D.
Associate Professor and Chair
Department of Public Policy
UMass Dartmouth
Co-Editor, MassBenchmarks
May 28, 2014
What is going on in the economy and what does it mean for SE Mass?
On the one hand…
Consumer balance sheets are much improved
Massachusetts has finally recovered its peak dot-com bubble era employment levels
And the state economy has grown robustly of late
On the other hand…
In Massachusetts, in 2013, the annual average unemployment rate was:
•15.8 percent for workers under 25 years old.
•20.1 percent for those with less than a high school education.
The rising tide is not lifting all boats
Source: Bureau of Labor Statistics; Current Population Survey
The jobs recovery has been regionally imbalanced
So has the housing recovery…
Source: 2014 Economic Report of the President; Boston Globe
The state population is growing slowly and a large generational shift is well underway
Southeastern Massachusetts is no exception
Source: Population Estimates Program, UMass Donahue Institute