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Boston, MA : Industrial Snapshot - Q4 2014

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The Massachusetts economy continued to flourish through the close of the year. The state’s unemployment rate fell an impressive 130 basis points (bps) in 2014 to close November at 5.8%, according to the US Bureau of Labor Statistics (BLS). The unemployment rate in the Boston- Cambridge-Quincy metro area closed November at an even stronger 4.5%.

The Bay State added 59,600 jobs in 2014, putting year-over-year job growth at 1.8%. The Industrial Sector added another 10,000 jobs in 2014. Trade, Transportation and Utilities accounted for 6,100 new jobs, while the Manufacturing sector continued to struggle, losing roughly 900 jobs year-over-year. Over 3,200 new construction jobs were added in 2014, a strong positive indicator for the Massachusetts real estate market.

Source : Cushman & Wakefield

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