Sunday, October 02, 2005

Massachusetts in Economic Decline

The Boston Globe reports:
''For two decades, the growth in that business, particularly in money management, was incredible," said Alan Clayton-Matthews, an economist at the University of Massachusetts at Boston. Between 1980 and 2000 the money management industry here added jobs -- including plenty of good jobs -- at a rate of 8 percent a year, a total of 44,000 jobs over the period.

Since 2001 the numbers have gone in the opposite direction. Roughly 10,000 jobs have disappeared, with declines coming nearly every single month.
What new industries want to come to Massachusetts?