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Massachusetts Economy Slows Amid High Costs and Stagnant Jobs

10/5/2025

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Summary

Story summary

Massachusetts' economy is projected to grow slowly due to high costs and a weak labor market.
Experts foresee no recession but warn of slow growth and higher costs.
FY2025 tax collections beat projections by $2.1 billion, driven by a surtax on high earners.
Unemployment remains at 4.8%; job growth slows in professional and technology sectors, with FY2026 healthcare costs.

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Story summary

Massachusetts' economy is projected to grow slowly due to high costs and a weak labor market.
Experts foresee no recession but warn of slow growth and higher costs.
FY2025 tax collections beat projections by $2.1 billion, driven by a surtax on high earners.
Unemployment remains at 4.8%; job growth slows in professional and technology sectors, with FY2026 healthcare costs.