The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Study Reaffirms Financial Services' Role in Mass. Economy Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 12, 2010

Study Reaffirms Financial Services' Role in Mass. Economy

by: Armie Margaret Lee

Fundsters flipping through the pages of today's Boston Globe will find an article that reaffirms the financial services industry's role in Massachusetts' economy. The paper picked up on a study from research and consulting firm Mass Insight and Big Four accounting firm PricewaterhouseCoopers, which found that, despite the financial crisis, the financial services sector continues to be one of the biggest sources of jobs in Massachusetts outside of government and nonprofits.

The financial services field directly employs 170,000 people, which translates to more than 1 in 20 jobs in the state. The finance and insurance sector accounts for $35.5 billion of economic output, or about 10 percent of the total in Massachussetts.

The study also found that although some jobs were lost during the financial crisis and its aftermath, employment was more stable in the state compared to others like New York and California.

"We didn't get caught in the bubble," Mass Insight president William Guenther was quoted as saying.

The release of the study today coincides with the launch of a new group called Boston Financial Services Leadership Council, whose members include executives from Fidelity, Natixis, State Street and Putnam. [see related story

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use