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The economic performance of the New England States in 2002: an overview
Following a weak performance in 2001, New England's economy continued to struggle throughout 2002. The region faced faltering employment levels, rising unemployment, and escalating consumer prices. Economic uncertainty was reflected in dwindling consumer confidence. Despite a rather gloomy labor market, New England's residential real estate and export markets flourished.
AUTHORS: Aghdasi, Eamon; Fitzgerald, Mary C.; Back, Thomas; DeCoff, Tom
The economic performance of the New England states in 2004: an overview
The year 2004 marked the beginning of New England?s economic turnaround. After three consecutive years of job losses ? not to mention 86 years of World Series famine ? the region emerged victorious. All six New England states added jobs over the course of the year and experienced reductions in unemployment. Job growth in the region, however, was sluggish compared with the nation overall. Recovery was also reflected in strong exports growth, increases in the economic activity index, and improved consumer confidence. Although consumer price inflation in New England was milder than in recent years, home prices continued to escalate at above-average rates.
AUTHORS: Aghdasi, Eamon; Mergo, Teferi; DeCoff, Tom; Hershbein, Brad; Gerew, Nelson; Turner, Nick
The economic performance of the New England states in 2003: an overview
Burdened by the poor performances of the labor markets in Connecticut and Massachusetts, the New England region lost jobs for the third year in a row. The region lost jobs in nearly all major industries and added jobs in only two: leisure & hospitality and education & health services. Even with an unemployment rate that rose, New England had a lower rate of joblessness than most other Census divisions and the nation overall. Demand for residential real estate remained strong, as home prices soared at above-average rates. Consumer price inflation persisted at a higher rate in the region than in the nation; fuel prices escalated at twice the national rate.
AUTHORS: Hershbein, Brad; DeCoff, Tom; Aghdasi, Eamon; Back, Thomas; Becker, Krista J.; Turner, Nick; Gerew, Nelson