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November Unemployment Rate Drops to 2.9%

BOSTON — The state’s total unemployment rate dropped to 2.9% in November, marking the fifth consecutive month the rate declined, the Executive Office of Labor and Workforce Development reported Thursday.
The last time the state’s unemployment rate was at 2.9% was in January 2001. The unemployment rate in October was 3.3%.
In November, preliminary estimates from the Bureau of Labor Statistics indicate Massachusetts added 5,800 jobs over the month.  BLS slightly revised the October job estimates, reporting the state loss 5,400 jobs as opposed to the previously reported 5,500 job loss estimate. Year-to-date, December 2015 to November 2016, Massachusetts has added 67,200 jobs.
Massachusetts’ unemployment rate has remained lower than the national rate since April 2008. The Bureau of Labor Statistics reported the national rate at 4.6% in November.
At 2.9%, the seasonally adjusted unemployment rate is down 2.0% over the year from 4.9% in November 2015. There were 68,100 fewer unemployed residents and 108,400 more employed residents over the year compared to November 2015.
“We are very pleased to see the unemployment rate consistently go down month after month,” said Labor and Workforce Development Secretary Ronald L. Walker, II. “Not only is the unemployment rate declining, but we have continued job growth in key sectors that drive the Massachusetts economy.”
In November, over-the-month job gains occurred in the financial activities; professional, scientific and business services; construction; information; ‘other services’; education and health services; and local government sectors.
The state’s labor force participation rate — the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks — is 64.7%, down 0.2 of a percentage point over the month.  Over the year, the labor force participation rate has increased 0.1 of a percentage point compared to November 2015.

MBTA to Place Second Order of Rail Cars with CRRC

BOSTON — The MBTA announced it will place a second order for new Red Line cars with CRRC, the company already contracted to build new train cars at a facility it is building in Springfield, the Republican reported. MBTA officials say it’s cheaper to pay $300,000 for each new car than to rehab aging trains. CRRC, the Chinese-owned world leader in rail-car manufacturing, won a contract in 2014 to build 152 Orange Line cars and 132 Red Line cars to replace aging trains. Under the new proposal, CRRC will start building an additional 120 Red Line cars in 2022 after completing the initial order of Red Line and Orange Line cars. The proposal includes an option to purchase 14 more.

State Adds More Than 6,300 Clean-energy Jobs

BOSTON – The Massachusetts Clean Energy Center (MassCEC) today announced that the Commonwealth added 6,317 clean- energy jobs and has surpassed 100,000 clean energy jobs statewide for the first time, currently 105,212. The figures, released as part of MassCEC’s 2016 Massachusetts Clean Energy Industry Report, show the Bay State clean energy sector maintained a strong growth rate of six percent between 2015 and 2016. The report also found that the number of clean energy jobs in Massachusetts has increased by 75% since 2010.
“The Commonwealth’s highly educated and well-trained workforce makes it an attractive place for innovative industries, including clean energy companies,” said Gov. Charlie Baker. “Massachusetts’ recently passed comprehensive energy diversification legislation will continue to build on the recent success of the clean energy industry by increasing opportunities for growth and advancement.”
“The Clean Energy Industry Report clearly shows that the booming clean energy sector is a pivotal jobs creator within the Commonwealth and a driving force for diversifying our energy sources,” said Lt. Gov. Karyn Polito. “The Baker-Polito Administration is committed to continuing our support of Massachusetts’ robust clean energy sector and making these benefits accessible to residents throughout the Commonwealth.”
The report found that clean energy is an $11.8 billion industry in Massachusetts, and represents 2.5% of the Commonwealth’s Gross State Product. Clean energy jobs represent 2.9% of the overall workforce in the state, the report found. The clean energy industry employs residents of every region in Massachusetts. Jobs grew over the past year in each of the state’s regions, with the largest growth coming in Northeastern Massachusetts (8.8%) and Southeastern Massachusetts (8.2%).
“The continued strength of Massachusetts’ clean energy industry continues to bring innovation, energy savings and environmental benefits to communities across the state,” said Energy and Environmental Affairs (EEA) Secretary Matthew Beaton. “The Baker-Polito Administration will continue to work with our partners in the clean energy industry to reduce costs to ratepayers, usage and emissions as we work to achieve our Global Warming Solutions Act goals.”
“The clean energy industry in Massachusetts continues to see strong job growth while helping to drive the state’s vibrant innovation economy,” said MassCEC CEO Stephen Pike. “The clean energy sector is fueled by the economic activity of small businesses, universities, nonprofits, technologists and entrepreneurs hard at work on addressing our most pressing energy challenges.”
The report found that Massachusetts installed 25,390 renewable energy projects in 2016, adding an additional 374 megawatts (MW) of electric capacity in the process, enough to power 56,040 homes. The Commonwealth also remains first in the United States for per-capita early-stage clean energy venture investment, beating out California. Early stage investment in Massachusetts clean energy companies grew 166% over the previous year.
The report, prepared for MassCEC by BW Research Partnership, also found Massachusetts to be the national leader in early-stage clean energy investment. Overall, public and private investment in the industry exceeded $658 million.

State Treasurer Issues Report on Financial Literacy in Massachusetts

BOSTON — State Treasurer Deborah Goldberg recently unveiled a one-year progress report on her Office of Economic Empowerment’s financial-education initiatives. The review highlighted the advancements resulting from the 2015 Financial Literacy Task Force Report. The task force consisted of a diverse group of policymakers, educators, bankers and advocates, and convened last year to develop an action plan for Massachusetts residents to have access to the financial skills they need to attain economic stability. The report culminated with the release of 22 recommendations aimed at empowering residents with an understanding of how to budget their money, save for retirement, and understand the impact of economic decisions. “I am thankful for the many partners that share our vision and commitment to expanding economic security in Massachusetts,” Goldberg said. “We will continue to innovate and expand our programs through a digital delivery of financial education and partnerships throughout the state.” In one year, Goldberg’s Office of Economic Empowerment initiated 14 of the 22 policy recommendations provided by the task force, including: establishing $eedMA, a pilot program designed to help kindergarten families save for post-secondary education and training; creating the Women’s Economic Empowerment Series, a free financial-empowerment workshop series for women; and the relaunch of Operation Money Wise as a grant program for organizations to provide financial education and programming to the military, veteran, family, and survivor community.

Springfield Cultural District Releases Video Map

SPRINGFIELD — The Springfield Central Cultural District (SCCD) launched a new video map to accompany the Downtown Springfield Cultural Walking Tour. The tour, first introduced in the summer of 2015, is a tool designed to be used by visitors or residents to learn more about the city’s architectural, historic, and cultural highlights. Printed maps are available at all downtown hotels, visitor’s centers, and cultural institutions, and is also available digitally on the SCCD website, springfieldculture.org. “Sometimes even residents are unaware of the beautiful assets we have throughout the Cultural District, and these videos are a living, breathing way for everyone to connect with the people at our historic and cultural landmarks, not just the buildings,” said Morgan Drewniany, SCCD director. The video map brings a new dimension to the walking tour. Viewers gain insight into the history of each location on the map and have the chance to learn an unexpected fact about the venue or building. Each video is presented by a member of the Springfield Central Cultural District on location, and is under two minutes, to allow viewing while out and about. There are 12 videos linked to the Walking Tour. Kay Simpson, president of the Springfield Museums; John Doleva, president and CEO of the Basketball Hall of Fame; Stacey Church, general manager of the MassMutual Center; and Peter Salerno, executive director of the Springfield Symphony Orchestra, are just a few of the highlighted speakers, among many others. The project was funded, in part, by a Springfield Cultural Council grant, and was produced by Focus Springfield.