Facts at a Glance: Jobs and the Massachusetts Economy, Labor Day 2011 September 2, 2011
After a record-setting economic downturn that officially began in December of 2007 and ended in June of 2009, the US economy is now in a period of weak and fragile recovery, one that features both slow growth and high levels of unemployment. For many Americans, the current recovery feels little different than the recession itself.
This certainly holds true for the many Massachusetts families who have felt the direct effects of this historic downturn - Labor Day 2011 offers little cause for celebration among the Bay State's thousands of unemployed and underemployed workers. By many measures, however, Massachusetts has fared far better than most other states during the Great Recession and its aftermath. We have experienced lower rates of unemployment, lost a smaller share of our jobs, and maintained higher median wages for many of our workers.
A new Facts At A Glance, Jobs and The Massachusetts Economy: Labor Day 2011, provides charts and analysis of the most current data for Massachusetts and the US on unemployment rates, job losses, and median wages. The report offers snapshots of how these measures have changed since the start of the Great Recession and over prior decades. It is available here and at www.massbudget.org.
MassBudget provides independent research and analysis of state budget and tax policies, as well as economic issues, with particular attention to the effects on low- and moderate-income people.