23 Jan IT sector buoys Mass. employment figures
The Massachusetts Executive Office of Labor and Workforce Development has published its latest report on the state's employment data. In December, Massachusetts added nearly 11,000 jobs, making a total of 60,900 new jobs in 2014, the fifth straight year of job growth, and about 200,000 since the end of the Great Recession. Over the course of last year, the unemployment rate fell from 7.1 percent to 5.5 percent, the lowest since August 2008.
As The Boston Globe notes, the tech industry, along with biotechnology and life sciences, helped Massachusetts emerge from the recession before many other states. According to the Office of Labor, the professional, scientific and business services industry added almost 13,000 jobs in 2014, behind only education and health services.
"Today's jobs report shows progress as the Commonwealth continues to reduce unemployment, but there is still much work to be done," said Governor Charlie Baker, who will be looking to build on these strong numbers after taking office this month. "Our Administration is committed to closing our state's deficit and focusing on meaningful steps to improve employment opportunities for everyone everywhere, especially veterans returning home, students entering the workforce, and those living in regions of our state still waiting for economic recovery."
Recent developments show that state officials are relying on the IT sector to provide a further boost to the regional economy. So far in 2015, Boston Mayor Marty Walsh has announced the creation of a startup portal for the city and a bill has been introduced in the General Court to promote collaboration between companies and municipalities. Massachusetts software developing companies should see their prospects improve in the coming months.