Mass. unemployment rate drops to 4.9% in February
Boston Globe - 03/19/2015
The state economy has been supported by its strong technology and life sciences sectors, growing consumer confidence and spending, and a strengthening US economy. Although wages overall have remained mostly flat, rising stock and home values have restored household wealth, said Alan Clayton-Matthews, an economics professor at Northeastern University.
Clayton-Matthews said the economy appears to have entered a self-sustaining cycle that economists call a “virtuous circle” in which rising employment leads to increased consumer spending, which in turn leads to more hiring.