As economists continue to explain why growth will slow and inﬂation will reemerge, the Massachusetts jobs engine accelerates, generating jobs and income at an increasing rate even as inﬂation continues to subside. The state’s expansion has now surpassed the “Miracle Years” in length, and there is no evidence to suggest that it will end soon. In spite of this, a slowing is inevitable; the region is running out of skilled workers and cannot support this rate of growth indeﬁnitely. The pool of available workers now appears concentrated among less-skilled workers with low levels of educational attainment. These workers could support continued expansion, albeit at a slower pace of income growth, if employers can absorb them into the workforce.
Clayton-Matthews, Alan, "Economic Currents: The State of the State Economy" (1998). Public Policy and Public Affairs Faculty Publication Series. 16.
University of Massachusetts Donahue Institute
Published in MassBenchmarks, Vol. 1, No. 3, pp. 4-8: http://www.massbenchmarks.org/publications/issues/vol1i3/3.pdf.