By Hannah Green Last year, Massachusetts’ life sciences industry saw its slowest job growth since 2017 as the industry faced economic headwinds. The Bay State’s biopharma workforce consisted of 116,937 employees in 2023, according to the latest “Industry Snapshot” report put out by the Massachusetts Biotechnology Council, or MassBio, on Tuesday. The trade group found that […]
By Ben Casselman The U.S. economy added far fewer jobs in 2023 and early 2024 than previously reported, a sign that cracks in the labor market are more severe — and began forming earlier — than initially believed. On Wednesday, the Labor Department said monthly payroll figures overstated job growth by roughly 818,000 in the 12 months that ended in […]
By JLL In the past 12 months, Boston has emerged as the top major market in the United States for workers returning to the office. According to foot traffic data from Placer.AI, office attendance in Boston has increased by 10.3% during this period, marking a significant improvement from a year ago when the city lagged in […]
By Greg Ryan The downtown Boston office market has captured the lion’s share of local attention — and alarm — since Covid-19 upended the five-day, in-office workweek. But now there’s cause for concern across the Charles River for the 12 million square feet of offices in Cambridge. A CBRE report this month found that, for the first time since the […]
By Joanne Drilling June was a watershed moment for post-pandemic office attendance. That’s according to the Office Building Index from location intelligence software company Placer.ai, which found the national average for office attendance was down only 29.4% compared to June 2019. Placer.ai’s data was based on foot traffic analytics from commercial office buildings in major metro […]
By Greg Ryan A unit of the German software maker SAP is subleasing a floor of office space at 60 State St. in downtown Boston, nearly doubling its footprint at its Watertown location. SAP LeanIX (NYSE: SAP) is taking about 25,000 square feet from LinkSquares at the Boston office tower, with plans to move into the […]
By Mary C. Serreze The mid-July failure of a 350-foot offshore wind blade off the coast of Massachusetts was caused by a “manufacturing deviation” at a factory in Canada, according to Scott Strazik, CEO of GE Vernova (NYSE: GEV), maker of the defective component. “We have no indications of an engineering design flaw — that’s important […]
By Jeanne Whalen Americans’ once-in-a-generation job market has come to an end. The red-hot hiring and rock-bottom unemployment that helped millions of workers find new gigs, boost their wages and reinvent their careers are giving way to more prosaic times. While the market is still healthy by many measures, signs of difficulty are creeping in. The […]
By Sam Goldfarb, Peter Santilli and Anthony DeBarros The Wall Street Journal’s latest quarterly survey of business and academic economists shows forecasters remain firmly optimistic about the economic outlook, despite some hints of weakness in recent data. The following graphics show what economists are thinking now and how their forecasts—and the economy—have evolved over recent months and years. After looking at […]
By Hannah Green Massachusetts Biomedical Initiatives (MBI) is calling on state officials to designate Central Massachusetts as a “Biomanufacturing Hub” and help the region to compete against those in other states. The nonprofit released a regional biomanufacturing strategy on Tuesday. MBI wants to see the state get involved in such areas as building regional talent and incentivizing large-scale […]
