Nascent signs of imbalance are appearing in the Massachusetts economy. Wage rates and housing prices are beginning to rise at an unsustainable pace as a result of labor shortages and strong consumer demand. At the same time, the manufacturing sector continues to suffer from the economic crisis in Asia.
Clayton-Matthews, Alan, "Economic Currents: The State of the State Economy" (1999). Public Policy and Public Affairs Faculty Publication Series. 21.
University of Massachusetts
Published in MassBenchmarks, Vol. 2, No. 3, pp. 4-9: http://www.massbenchmarks.org/publications/issues/vol2i3/3.pdf.