There is great uncertainty about the impact the federal budget cuts, through the process known as sequestration, will have on the Massachusetts economy. But regional economists remain cautiously optimistic, according to an analysis released this week.
Education and the military would take among the biggest hits in Massachusetts from the automatic cuts to the federal budget that are scheduled take hold this week absent a compromise between the White House and Congressional Republicans.
The White House Sunday issued a report that said sequestration, as the budget cuts are called, would result in about 7000 civilian defense department workers being furloughed, reducing gross pay by more than $43 million. Funding for military base operations would be cut by about $13 million.
Boosted by higher home sale prices and more transactions spurred by low interest rates the amount of money spent on real estate in Hampden County last year was almost $1 billion, a nine percent increase over 2011, and the most since 2008. Hampden County Register of Deeds Donald Ashe called it a good year for the housing market in western Massachusetts and he forecast what he called a “ steady healthy market” for the next six months.
Today in Pittsfield, a detailed analysis of the Berkshire County labor market was presented by the Federal Reserve Bank of Boston to highlight the changes, strengths, and challenges facing workers and employers in region. WAMC’s Berkshire Bureau Chief Lucas Willard reports…
The Massachusetts legislature has passed a bill designed to spur economic development and create jobs. It should also provide a boost to the national research profile for the University of Massachusetts flagship Amherst campus. WAMC’s Pioneer Valley Bureau Chief Paul Tuthill reports
The Massachusetts economy, which had been growing at a much faster rate than the nation’s as a whole is showing signs of slowing. Experts believe the Baystate is being buffeted by forces beyond its borders. WAMC”s Pioneer Valley Bureau Chief Paul Tuthill reports.
A new report from the Massachusetts Office of Labor and Workforce Development, Tuesday, said seasonally unadjusted unemployment rates rose in a majority of the state’s 22 local labor markets in June, reflecting a statewide slow down in permanent hiring.