A program of the Economic and Public Policy Research Group at the UMass Donahue Institute
in collaboration with the Federal Reserve Bank of Boston
Growth in real gross domestic product (GDP) in Massachusetts and the U.S. has remained unexpectedly high in recent quarters and Massachusetts’ relative payroll jobs performance continues to outpace its New England neighbors. The growth in both the state and U.S. comes despite high interest rates that are now appearing to have the desired effect to lower inflation. The Massachusetts unemployment rate is down to a record low level. Most major industry sectors in the state also experienced payroll jobs growth through the first three quarters of 2023, again showing that the economic improvements are broadly based.
Read the Full SummaryIssue archive for "MassBenchmarks: Notes from the Board".
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University of Massachusetts Amherst
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