Has the Massachusetts Economy Turned the Corner?

Has the Massachusetts Economy Turned the Corner?

With one of the worst hit economies in the United States during the banking crisis of 2008, Massachusetts has had a long slog of it during recent years. However, certain statistics seem to indicate that the economy of the state is turning around.

Currently under 6%, Massachusetts has one of the lowest unemployment rates in the United States.

Venture capital investment in the state of Massachusetts was also higher in the second quarter 2014 compared year-over-year with 2013. The total amount invested around the state topped $1 billion.

The business real estate market in Boston is also becoming quite scarce, with the retail sector leading the charge.

In most cases, this would seem to signal a turnaround. However, because of the performance of the state in past years, one might state that this is simply back to normal for Massachusetts. Many economic experts also argue that the improvement in the economy is focused on those in the top 1% of the community of Massachusetts, with middle and lower class people seeing very little improvement in their lives.

Before the 2008 crisis hit, Massachusetts was one of the most productive states in the United States. The statistics that are being shown now do not necessarily reflect a healthy Massachusetts, but instead of Massachusetts that is still recovering. As home to some of the most successful industries in the world, the economy of the state of Massachusetts still seems to have a long way to go in order to achieve its true potential.

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