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Thursday, July 31, 2008


Boston jobs Pay Off

Boston jobs pay better, according the most recent report from the U.S. Bureau of Labor Statistics. Nationally, the city is ranked as the fifth highest paying metropolitan area in the country.

In 2007, the average Bostonian was paid 12 percent higher than the national average. The report compared 77 metros to determine where workers were making the most. According to the Bureau, pay relative calculations help to make comparisons in our large and varied economy.
Installation, maintenance and repair employees in Boston made more than anywhere else in the united states. These professionals earned 15 percent more than the national average.

All of the four New England metropolitan areas made it into the top ten highest paid cities in the country. Hartford came in fourth, followed by Boston at fifth. Springfield tied Seattle for sixth place and Providence was in a three-way tie for eighth with San Diego and Minneapolis.
According to the report, San Francisco residents make the most in the country, while those in the Brownsville-Harlingen, Texas area were paid the least.

The first pay relative calculation was conducted in 2002. Since then, Bostonians have consistently been paid more than is the national average.

Although residents in the Boston area made be making more than the majority of the nation, Massachusetts’ economy is not immune to the instability that is effecting the rest of the U.S. According to the Federal Reserve Bank, the industries that are experiencing the most strife are retail, manufacturing and commercial real estate.

Because of this, the number of individuals in Massachusetts claiming jobless benefits jumped to 13 percent higher than last year during the month of June. Approximately 38,600 residents are now receiving unemployment. Despite this, the jobless rate is only 5.2 percent, which is still significantly lower than the national average.

According to the U.S. Department of Labor, the number of unemployment insurance claims recently increased to 406,000 throughout the country. This is an increase of 34,000. Previously economists had predicted the number of claimants to only reach 375,000.


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