|
|
Article: Boston: Economy
- Article from:
- Cities of the United States
CopyrightCOPYRIGHT 2006 Thomson Gale. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Boston: Economy
Major Industries and Commercial Activity
Since the 1988
–
1992 downturn, Boston experienced an ongoing economic recovery, with increased employment rates, improvement in the office market, strong sales, and tremendous gains in residential real estate. As in many places across the country, Boston's economy was affected by the events on September 11, 2001. Especially hit were the travel, financial services and high technology sectors, which alone lost nearly 32,000 jobs between 2001 and 2003. Loss of jobs in those areas leveled off in 2004 and began to regain some lost ground, especially in tourism.
Other sectors such as education and health care were not as hard ...