This graph from the UMass Donahue Institute shows the significantly slower pace the Massachusetts labor force is projected grow at over the next 30 years. (UMass Donahue Institute, via SHNS)
Though the Massachusetts economy has largely rebounded from the pandemic-driven recession, an aging population, migration trends and a more restive workforce may limit continued economic expansion in the coming years.
That was the message delivered by Mark Melnik, director of economic and public policy research at the UMass Donahue Institute, and a new report by a national business group.
As of November, Massachusetts’ unemployment rate stood at 2.9%, the ninth lowest in the nation. At the same time, job growth has slowed. It grew by only 1.8% from 2022 to 2023 — the result of an aging population and shrinking workforce.
From 1990 to 2020, the state’s labor…
