With unemployment in Boston (8.3% in March) having been over eight per cent for the past 10 months, “the Hub” is clearly not yet out of the economic woods. 

Having said this, a number of indicators suggest that the metro area’s economic health is getting stronger. 

First, according to S&P Case-Shiller, strengthening housing demand in the metro area has caused the year-over-year change in existing home prices to move steadily higher since December 2009.

Moreover, given that single family starts in Boston are up by 63% year over year in February, it appears that this increase in demand for existing homes has given a solid boost to new residential construction.

From an industrial perspective, the recent turnaround in the information technology sector bodes well for the Boston metro area, given that it has the second highest concentration of information technology (IT) jobs in the country, after Silicon Valley.

Also, although several major hospitals and universities in Boston announced layoffs in 2009, the education and health sector should avoid net job losses in 2010, according toProperty and Portfolio Research.

Looking forward, based on two recent surveys, the employment outlook in Boston has definitely brightened over the past quarter..........read more