The Massachusetts economy continues to recover ahead of the nation due to the strength of the state’s education, health care, and high-technology sectors, yet many people continue to struggle, the University of Massachusetts reported today.
A key element of the state’s recovery has been a rise in exports to other countries, including Germany, China, and India, largely due to a relatively weak dollar, the report said.
“Overall it’s good news, we’re moving in a positive direction,” said UMass Dartmouth public policy professor Michael Goodman, co-editor of MassBenchmarks, the UMass journal that released the analysis. “But there are still troubling imbalances.”
The quarterly report is based on an assessment of conditions by the journal’s editorial board, which comprises economists from several Massachusetts universities and the Federal Reserve Bank of Boston. The recovery, the economists said, has been slow and uneven, and the state continues to struggle with a moribund housing market and persistent long-term unemployment. Read More.