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Monthly Economic Update - State of Massachusetts August 12, 2009
U.S. Gross Domestic Product- GDP (SAAR)
PeriodLevel (billions, 2005 chained dollars)
Percent change from prior quarter (AR)
Percent change from year-ago quarter
Q2 2009 advance 12,892.4 -1.0 -3.9
U.S. Federal Funds Target Rate
Period Level (percent) Level in year-ago periodAugust 12, 2009 0 to 0.25 2.00
Total Nonagricultural Employment (SA)
Period Level (thousands of jobs)Percent change from prior month (AR)
Percent change from year-ago month
United States July 2009 131,488 -2.2 -4.2
New England June 2009 6,814.8 -1.5 -3.4
Massachusetts 3,187.4 -0.9 -3.2
Barnstable Town NECTA 96.6 -2.5 -4.5
Boston-Cambridge-Quincy NECTA 2,431.4 0.3 -2.7
New Bedford NECTA 63.2 -10.7 -3.8
Springfield NECTA 287.0 -3.3 -3.6
Worcester NECTA 242.3 -2.9 -1.9
Unemployment Rate (SA)
Period Level (percent) Level in prior month Level in year-ago monthUnited States July 2009 9.4 9.5 5.8
New England June 2009 8.5 8.3 5.3
Massachusetts 8.6 8.2 5.1
Barnstable Town NECTA 8.5 8.4 5.3
Boston-Cambridge-Quincy NECTA 7.9 7.6 4.7
Leominster-Fitchburg-Gardner NECTA 11.2 11.0 6.5
New Bedford NECTA 12.4 11.9 7.4
Pittsfield NECTA 8.2 8.1 5.0
Springfield NECTA 8.9 8.8 5.7
Worcester NECTA 9.0 8.8 5.4
Average Weekly Initial Claims for
Unemployment Insurance (SA)
Period Level (thousands)Percent change from year-ago month
United States June 2009 NA NA
New England 24,655 29.3
Massachusetts 10,146 16.8
Total Personal Income (SAAR)
Period Level (millions of dollars)Percent change from prior quarter (AR)
Percent change from year-ago quarter
United States Q1 2009 12,037,360 -2.1 0.8
New England 695,517 -2.7 0.7
Massachusetts 330,383 -2.2 1.1
Employer Cost Index- ECI (NSA)
Period Level (index, Q4 1995=100)Percent change from prior period (AR)
Percent change from year-ago period
United States Q1 2009 109.3 1.5 1.9
New England 109.9 1.5 3.0
Consumer Price Index- CPI (NSA)
Period Level (index, 1982-84=100)Percent change from prior period (AR)
Percent change from year-ago period
United States June 2009 215.7 10.8 -1.4
Boston (New England) May 2009 231.9 -0.7 -1.5
The CPI for the Boston area is published every other month and covers parts of Massachusetts, Maine, Massachusetts, and New Hampshire.
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Monthly Economic Update - State of Massachusetts August 12, 2009
Home Price Index (NSA)
PeriodLevel (index, Q1 1980=100;
Q1 1995=100 for metro areas)
Percent change from prior quarter (AR)
Percent change from year-ago quarter
United States Q1 2009 370.0 1.7 -3.3
New England 583.6 -0.4 -3.9
Massachusetts 667.8 -0.6 -3.7
Barnstable Town 283.0 -0.6 -4.3
Pittsfield 217.0 -11.7 -1.8
Springfield 205.1 5.8 -2.5
Worcester 219.7 -0.5 -5.5
Total Housing Permits
Period Level (units authorized)Percent change from year-ago month
United States (SA) June 2009 48,000 -51.0
New England (SA) 1,277 -60.2
Massachusetts (SA) 411 -74.4
Barnstable Town (NSA) 28 -55.6
Boston-Cambridge-Quincy (NSA) 396 -79.4
Pittsfield (NSA) 7 250.0
Springfield (NSA) 41 36.7
Worcester (NSA) 55 -23.6
Existing-Home Sales (SAAR)
Period Level (thousands of units)Percent change from year-ago quarter
United States Q2 2009 4,757 -2.9
New England 196.8 -10.9
Massachusetts 93.6 -12.0
Total Merchandise Exports (NSA)
Period Level (millions of dollars)Percent change from year-ago quarter
United States Q1 2009 246,770 -22.3
New England 11,966 -13.1
Massachusetts 6,161 -14.6
AR= annual rate SA= seasonally adjusted NSA= not seasonally adjusted
SAAR= seasonally adjusted at an annual rate NA= not available
Sources:
Bureau of Economic Analysis (GDP, Income)
Bureau of Labor Statistics (Employment, Unemployment, CPI, ECI) Census Bureau (Housing Permits)
Department of Labor (Claims for Unemployment Insurance) Federal Reserve Bank of New York (Federal Funds Rate) National Association of Realtors (Existing-Home Sales) Federal Housing Finance Agency (Home Price Index) World Institute for Strategic Economic Research (Exports)
