Experts: Despite loss of 4,500 jobs, Massachusetts outlook good

Written By Unknown on Sabtu, 08 Maret 2014 | 00.32

Massachusetts lost 4,500 jobs in January after the state last year saw the largest increase in jobs since 2000, but experts and state officials said last month's losses are not a predictor of the entire year.

"I don't think that reflects any indication that the economy is slowing at all," said Alan Clayton-Matthews, an economist at Northeastern University. "I suspect that this is an aberration and things will pick up in the coming months."

Andre Mayer, senior adviser at Associated Industries of Massachusetts, said in a blog post it is tough to interpret January's numbers.

"The reported January job loss may signal a slowdown, but it may just as well be statistical error from the survey or seasonal adjustment, or simply a result of bad weather."

Clayton-Matthews said much of the losses could be due to seasonal trends.

"The decline in retail trade could be due to seasonable fluctuations that occur this time of year," he said.

The Bay State's unemployment rate in January fell 0.3 percent to 6.8 percent. The national rate in January was 6.6 percent. Last year, the state unemployment rate rose above the national rate for the first time since 2007.

State officials also released the final numbers for 2013, and said the state added 55,200 jobs last year.

"For our state, it's particularly exciting that we had such strong growth in 2013 because it means we are moving beyond a simple recovery," Housing and Economic Development Secretary Greg Bialecki said.

Clayton-Matthews said neither number changed his views on 2014, which he thinks will be a strong year for the state.


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