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University of Massachusetts Donahue Institute
The State of the State Economy
Michael D. Goodman, Ph.D.
Director of Economic and Public Policy Research
Office of the President
University of Massachusetts Donahue Institute
President, New England Economic Partnership
July 12, 2006
University of Massachusetts Donahue Institute
In recent years, growth in Gross State Product has consistently lagged that of the US.
University of Massachusetts Donahue Institute
At present pace, the Commonwealth will not regain the jobs lost during the most recent recession until
at least 2010.
University of Massachusetts Donahue Institute
Employment growth will be led by Professional and Business Services, Education and Health Services and
Leisure and Hospitality.
Payroll Employment, Massachusetts
70.0
75.0
80.0
85.0
90.0
95.0
100.0
105.0
110.0
115.0
120.0
01 02 03 04 05 06 07 08 09
2000Q
1=
100
Education & Health Services
Leisure & Hospitality
Other Services
Construction
Trade, Transportation, Utilities
Total Payroll
Professional and BusinessServices
Financial Activities
Government
Information
Manufacturing
Source: New England Economic Partnership
University of Massachusetts Donahue Institute
Statewide Outlook for Travel and Tourism Sector
• Employment and overall industry growth are expected to be strong for the balance of the decade.
• Weak dollar is expected to continue to attract international visitors, especially from the European Union.
• In a recent UMass Donahue Institute business poll, over 27% of coastal tourism and recreation firms in Massachusetts reported that they plan to hire additional employees and over 2/3 expect their sales/revenues to grow in the next 12 months.
University of Massachusetts Donahue Institute
For more information:
• For a timely and comprehensive analysis of the Massachusetts economy, please visit and subscribe to MassBenchmarks at:
http://www.massbenchmarks.org
• For more information about the New England Economic Partnership see me or visit http://www.neepecon.org
