BOSTON (CBS) – Even though the state’s unemployment rate is still above 8 percent, the Bay State is turning into one of the biggest job producers in the nation. A study by the Bureau of Labor Statistics finds that Boston has become the second largest job generator in the country, just behind Washington, D.C.
Economist Barry Bluestone from Northeastern University says since January Massachusetts has generated about 5 percent of all of the new jobs in the country, although we represent only 2.5 percent of the nation’s workforce.
Professor Bluestone says lower real estate prices have added to the attraction of Massachusetts, but Bluestone says the state needs to keep more young families here to fill expected job openings since our population is aging faster than national averages.
Over the past year, Greater Boston generated more than 21-thousand new jobs while 56 of the top 100 metro areas in the country continue to lose jobs including San Francisco, Detroit and Chicago.