BOSTON (AP) — Some economists are cautioning that Massachusetts’ low unemployment rate is putting pressure on a tight labor market and adding to the difficulty that some key industries have finding skilled workers.
The editorial board of MassBenchmarks, an economic journal published by the University of Massachusetts Donahue Institute, wrote that the state’s economy is “approaching full capacity.” The board said labor market conditions could lead to worker shortages.
Unemployment dipped below 3 percent in November for the first time since 2001.
Meanwhile, pockets of higher unemployment linger in parts of the state where many workers lack the skills to match up with the jobs market demand.
The gap between the demand for and supply of skilled workers is likely to continue to be a concern to Beacon Hill policymakers this legislative session.
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