October 31, 2006 12:11 PM

Good news for local job seekers: Mass. economy growing faster than US
Posted by Douglas Eisenhartat 12:11 PM

Welcome news announced recently by the US Department of Commerce and UMass about the local economy:

The Massachusetts economy, boosted by demand for technology products, grew twice as fast as the national economy in the third quarter, according to figures released yesterday by the US Department of Commerce and the University of Massachusetts.

It's great news for job seekers, across a range of industries:

The UMass report indicates a turnaround for the state economy, which in recent years has significantly lagged the national expansion. Massachusetts is now matching the nation's rate of job growth, while the state's broader economy has posted three consecutive quarters of solid economic growth above 3 percent.

"The state has experienced the strongest growth since the recession, lifted by worldwide demand for its technology and science-based products," said Alan Clayton-Matthews, the UMass-Boston professor who did the analysis.
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Moreover, said Clayton-Matthews, the job growth is in high-paying sectors, such as technology, biotechnology, and financial services. Manufacturing employment also has stabilized, boosted by record exports of technology, scientific products, and other products.

Read the entire piece from the Globe.