Springfield Exemplifies Bay State's Imbalanced Economic Recovery, Notes Isenberg Professor
June 27, 2013
The Massachusetts economy continues its recovery, with recent employment reports and other data suggesting steady but modest growth, observes Isenberg professor and economist Robert Nakosteen. The recovery, though, remains regionally imbalanced, with Greater Boston, and to a lesser extent, Worcester, leading the way, continues Nakosteen, who is Executive Editor of MassBenchmarks, a journal devoted to the state's economy and published by the UMass Donahue Institute in cooperation with the Federal Reserve Bank of Boston.
In contrast, economic conditions on the SouthCoast, in North-Central
Massachusetts, and in the Pioneer Valley remain difficult. Greater Springfield,
for example, has lost 2,100 jobs, about 0.7 percent of employment. "No
matter what you are looking at, there is less employment now than there was a
year ago in the western part of the state," explains Nakosteen in a Springfield
Republican article that dissects the city's ailing economy. Read
more. And read the June 2013 edition of MassBenchmarks' Excerpts from the Board.