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BRA releases report on Boston’s economy

Nov 06, 2015

Last week, the BRA’s Research Division completed its 2015 report on Boston’s economy. The team’s analysis found that Boston has rebounded steadily since the end of the Great Recession in 2009, outperforming both Massachusetts and the nation with annual job growth of 2 percent between 2010 and 2014. Total employment in the city actually rose to its highest level in recent decades, and unemployment fell to pre-recession levels in early 2015.

Post-recession job growth has been positive across most industries in Boston, but the biggest gains were concentrated in health care and social assistance, professional and technical services, and education. Boston’s high tech industries have also seen very encouraging gains, as employment in those areas grew by 9 percent annually on average since the recession.

The local economy grew by 2.2 percent annually between 2009 and 2013, as measured by Gross City Product, which rose from $100.8 billion to $109.8 billion. Despite robust job growth, real wages in Boston remained flat during this four year period, growing by only 0.2 percent.

Boston’s Economy 2015 features sections on employment and wages, profiles of key industries, the real estate market, and a brief outlook on the future of our economy. The full report is available here.

To learn more about the BRA’s Research Division and for access to other publications, please visit www.bostonredevelopmentauthority.org/research-maps. 

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