Rob Gavin from the Globe’s business pages writes today that the Federal Reserve’s recent regional economy report states that the New England economy is growing, but the pace is slow. Read his article here, and consider subscribing to the Globe if you appreciate the writing.
The Sun recently reported that Lowell’s unemployment rate in June was about 11 percent, slightly better than the Great Recession’s high point of 13 percent in the city last January. As an historical note, people talking or writing about Lowell’s modern renaissance typically cite the 12 percent unemployment rate in the mid-1970s as the horrific trough of the city’s post-WWII downturn. In those days, Lowell’s jobless rate was among the worst in the nation. That the official figure in January 2010 exceeded the historic high point is worth noting for perspective. And that says nothing about the unofficial figure or a higher figure that would include so-called discouraged workers who aren’t looking, the people working “under the table,” and the underemployed.