There was reason for optimism when it was announced that the unemployment rate in Massachusetts dropped below 3 percent for the first time since 2001. In metropolitan Worcester, the unemployment rate dropped to 2.8 percent in November, down 1.9 percent in a year.
In addition, last week the Associated Industries of Massachusetts announced that business confidence rose to its highest level since December 2004. Employer enthusiasm, AIM reported, “is also based upon a solid economic expansion during 2016 that most analysts believe will continue in a methodical manner through the first half of 2017.”
Despite the positive data there is reason for concern.
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