Business confidence drops for first time since August
State House News Service - 05/02/2017
The Massachusetts Index, which assesses business conditions within the commonwealth, fell 0.4 points to 63.3, putting it 6 points higher than in April 2016. One economist suggested that Massachusetts could be beginning to feel the effects of a tight labor market exacerbated by the front-end of a wave of retiring Baby Boomers.
“The combination of a prolonged economic recovery and the demographics of skilled workers retiring with no one to replace them is creating an impediment to growth for Massachusetts employers,” Barry Bluestone, professor of political economy at Northeastern University, said in a statement. “The shortage underscores once again the importance of creating an education and training system that responds to the demands of the economy.”