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Massachusetts is still in the early stages of the recovery that began in the spring of 2003, but it may still be a couple of years more before it feels as if the recession is finally over. That “feel good” time will come only when unemployment is low enough for the state to achieve what economists call “full employment.” Currently, recent employment estimates from the payroll survey suggest that demand for the products and services supplied by Massachusetts producers is finally outstripping the ability of employers to meet that demand with existing employees. The result is that payroll employment is beginning to expand more quickly, and workers are finding jobs more easily than they have for several years. Still, a lot of slack remains in the job market, which has a large number of unemployed workers. Unemployment may even be increasing temporarily, as discouraged job seekers re-enter the labor market in response to improving chances of landing a job.


Published in MassBenchmarks, Vol. 7, No. 3, pp. 4-11:


University of Massachusetts

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