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The US economy is wonky right now. How about Massachusetts? – The Boston Globe

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The US economy is wonky right now. How about Massachusetts? – The Boston Globe


With that in mind, here are four graphs that capture the state of markets, jobs, industry, and cost-of-living in the US, Massachusetts, and Greater Boston.

Stocks

First things first: Wall Street’s mini-meltdown on Aug. 5 hit the Nasdaq Composite — a collection of tech-focused companies — particularly hard, with the index slipping 3.4 percent from the previous business day. This is likely due to existing anxieties about whether stocks in this sector have been bullishly overvalued by the AI boom.

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The Dow Jones industrial average and the Standard & Poor’s 500 indexes also experienced routs, though less dramatic (2.6 percent and 3 percent, respectively).

The Massachusetts economy — while relatively strong — is heavy on tech and biotech, so it landed somewhere in the middle. On Monday, the closing price of the Boston Globe’s index, which tracks 25 publicly traded companies in the Bay State, sank 2.9 percent.

But, like, the other indexes, it was back in recovery mode by Tuesday, a rally that continued — with some stops and starts — through the week.

Employment

A big concern right now among investors is the job market, considered one of the strongest indicators of an impending recession.

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The US added a relatively meager 114,000 jobs in July. State-specific payroll data for July won’t be released until later this month. But by the latest measures, Massachusetts companies are very much in hiring mode.

After stumbling earlier this year, Massachusetts employers added 19,000 jobs in June, according to the Bureau of Labor Statistics — an uptick of 0.51 percent from May. By comparison, the US’s bump from May to June was just 0.11 percent.

GDP

Growth in Massachusetts’ gross domestic product — the total value of all produced goods and services — outran that of the US in the second quarter of 2024, ticking up by an annualized rate of 3.3 percent from the first quarter, according to MassBenchmarks, an economic group that analyzes the state. The last time that happened was a year ago, in the second quarter of 2023.

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MassBenchmarks has some theories for why that is. “In Massachusetts, this increase in growth was supported by moderate payroll employment growth, high withholding and sales taxes — which imply high wage and salary income and spending growth, low unemployment rates, and a growing labor force,” the group said in a report.

Inflation/cost-of-living

If there’s one area where Boston reliably outpaces the rest of the country, it’s the cost of living. Recent data show that’s not changing.

After months of year-over-year inflation growth in the Boston metro area staying in the 2 percent range, it began to edge up again earlier this year. The last reported measure showed prices 4 percent higher in May 2024 than they were in May 2023, compared to 3.3 percent higher for the US. The increase in Boston was primarily driven — no surprise — by exorbitant shelter costs.

It remains to be seen whether prices in Boston have abated at all over the summer; the next Consumer Price Index for the metro area is due to be released later this month.

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Dana Gerber can be reached at dana.gerber@globe.com. Follow her @danagerber6.





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Massachusetts

Thursday’s six biggest high school takeaways, including a Gatorade award and a new all-time leading scorer in Saugus – The Boston Globe

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Thursday’s six biggest high school takeaways, including a Gatorade award and a new all-time leading scorer in Saugus – The Boston Globe


While Newton North claimed its third straight Division 1 championship in the fall, on Thursday Sasha Selivan became the first Tiger to be named Gatorade Massachusetts Volleyball Player of the Year.

“Sasha is in a league of her own as far as Massachusetts’ setters go,” said Bishop Feehan coach Heidi Bruschi. “No one else I’ve seen comes close.”

The 5-foot-9-inch sophomore led the Tigers to a 24-1 record with 673 assists, 133 digs, and 115 kills. In the Division 1 final, a 3-0 win over Brookline, she recorded 26 assists and four aces. Selivan is ranked as the nationals’ No. 128 player in the Class of 2027, according to PrepVolleyball, and was the Division 1 tournament MVP and a Division 1 All-State selection.

She maintains an A average in the classroom and volunteers locally as a youth volleyball coach and mentor.

2. DiBiasio keeps scoring for Saugus

While Saugus assistant coach Norma Waggett watched, junior Peyton DiBiasio broke her coach’s all-time program scoring record by netting 27 points to surpass the mark of 1,100 Waggett set in 2013. Saugus lost, 51-40, to Minuteman to fall to 5-2.

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3. On to college

In Danvers, St. John’s Prep announced 18 college commitments across eight sports:

Football

Merrick Barlow (Newburyport) to Naval Academy

Graham Roberts (Swampscott) to Harvard

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Newburyport’s Merrick Barlow, who had 11 TD receptions in 2024, formally committed to play football at Navy during a ceremony at St. John’s Prep on Wednesday.Courtesy St. John’s Prep

Baseball

Will Shaheen (Portsmouth, N.H.) to Harvard

Nic Lembo (Danvers) to High Point

Lacrosse

Charlie Angell (Winchester) to Pennsylvania

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Ryan DeLucia (Winchester) to Georgetown

Luke Kelly (Marblehead) to Michigan

Cameron McCarthy (Marblehead) to Loyola Maryland

JP Sullivan (Swampscott) to Saint Anselm

Jack Weissenburger (Marblehead) to Harvard

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Sam Wilmot (Topsfield) to Richmond

One of seven St. John’s Prep lacrosse players who signed Wednesday’s commitment ceremony, midfielder Luke Kelly of Marblehead will take his talents to Michigan this fall.Courtesy St. John’s Prep

Golf

Tripp Hollister (Sudbury) to Bryant

Cross-country

Daniel Padley (South Hamilton) to Holy Cross

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Swimming and diving

Kye McClory (Lynnfield) to Holy Cross

Greg Santosus (Marblehead) to Virginia Military Institute

Tennis

Luke Prokopis (Lynnfield) to Holy Cross

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Jack Prokopis (Lynnfield) to Holy Cross

Track and field

Noah Kabel (Swampscott) to Sacred Heart

4. Western Mass shuffle

Lots of league movement in Western Mass, particularly in football and girls’ soccer. Check out the reporting from Jesse Koldokin at the Eagle Tribune and Gage Nutter at MassLive.

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Here’s the Cliff’s notes version: Chicopee Comprehensive and Holyoke will leave the AA League and be replaced by West Springfield and East Longmeadow. The Tri-County loses Springfield International and gains Belchertown.

In the Suburban South, Wahconah is joined by Pittsfield, Putnam, and Chicopee Comprehensive. The Suburban North will feature Taconic and South Hadley, plus Hoosac Valley, Lee, Easthampton, and Holyoke.

The Intercounty South sees Chicopee, Ludlow, Springfield International, and Northampton join Commerce and Frontier. The Intercounty North remained unchanged.

In girls’ soccer, the Berkshire League’s Grieve division will be Drury, Wahconah, Pittsfield, Lenox, Monument Valley and Mount Greylock. McCann and Hoosac Valley move to the Pioneer South and Taconic, Lee, and Mt. Everett move to the Tri-County North.

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5. Thursday’s leaderboard

The top scoring performance of the night came in a defeat as Jacob Klass dropped 35 points for Beverly in a 77-73 loss to Gloucester that saw Nick Deleon score 26 for the Fishermen.

Minuteman’s Muji Vader nabbed 11 steals and added 24 points in a 63-19 win over KIPP Academy, sophomore Divine Egbuta led Lynn Classical with 26 points in a 58-46 win over Somerville, and Notre Dame (Hingham) junior Elle Orlando packed the box score with 25 points, 9 rebounds, and 8 steals in a 72-35 win over Ursuline.

On the ice, Newburyport’s Olivia Wilson netted a hat trick in a 7-3 win over Stoneham/Wilmington and Justin Thibert delivered three goals for Shawsheen in a 9-1 win against Nashoba Tech/Greater Lowell.

Freshman netminder Suki ten Brinke saved all 18 shots she faced to record her first shutout of the season in Lincoln-Sudbury’s 3-0 win over Westford, and Central Catholic junior Sydney Foster made 21 saves in her first shutout of the season, a 7-0 defeat of Wayland.

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6. Linked up

Before we bid adieu, a few things we’ve written recently, starting with Trevor Hass’s story on Bishop Feehan honoring the late local hoops legend Mike Babul by wearing black wristbands featuring his initials during a win over Bishop Fenwick.


Brendan Kurie can be reached at brendan.kurie@globe.com. Follow him on X @BrendanKurie.





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Massachusetts State Police release Body Camera footage of Nick Cocchi arrest

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Massachusetts State Police release Body Camera footage of Nick Cocchi arrest


LUDLOW, Mass (WWLP) – Massachusetts State Police have released body camera footage from the arrest of Hampden County Sheriff Nick Cocchi back in September.

The public is now getting a glimpse into the night of September 21st, when Sheriff Nick Cocchi was arrested by Massachusetts State Police outside of MGM Springfield. The night his state issued white Ford Explorer was found without a front right tire in the valet section of the garage.

The video shows the interaction with Cocchi and law enforcement as they are trying to piece together what happened.

“Yeah, ok, wanna go down that road, huh? ok,” says Sheriff Cocchi. The state trooper responds, “I want to take everything right by the numbers and by the books, sir.”

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At first when asked who was driving, Cocchi said a friend, then later admitting it was him behind the wheel. The trooper also saying he can smell alcohol, asking Cocchi how much he had to drink. To which he responds he had “a couple beers” when he was at the Springfield Country Club, but nothing at MGM Springfield.

Cocchi also declined a field sobriety test, multiple times.

Since the incident, Cocchi says he has taken full responsibility for his behavior.

“I’m not looking for empathy or sympathy. I’m not looking for people to give me a pass. All I’m asking for people to do and all I’ve said that I am is human, and I have integrity, I have honesty, and I have character. And I will always try to be the best version of myself, and that night I wasn’t,” said Sheriff Cocchi in response to the video release.

In regards to that night, Cocchi praises the troopers, saying throughout this process, he should not be treated differently from anyone else.

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Cocchi also said quote “Since the incident, I have done everything possible to show the public that I believe in transparency and accountability, especially in myself.”

He said at the Sheriff’s Department, they believe people are not defined by moments like these, but rather how they handle those moments.



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Massachusetts

2 of the largest fairs in North America are in Massachusetts

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2 of the largest fairs in North America are in Massachusetts


Travel

One saw record-breaking attendance in 2024.

Children on a ride at The Big E.

If you attended The Big E or the Topsfield Fair this past fall, you were in good company.


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Both Massachusetts fairs ranked among the top 50 fairs in the U.S. and Canada in 2024, according to Carnival Warehouse. The list was ranked by attendance.

“2024 contained very positive indicators that North Americans have rekindled their romance for midways, outdoor shows, agricultural programming and food-on-a-stick,” wrote Carnival Warehouse on its website. “Most fairs saw increases over last year’s attendance, only 12 top-50 fairs saw decreases, most of which were nominal and all of which were due to weather.”

The Big E (the Eastern States Exposition) in Springfield ranked No. 4 with an all-time total attendance record of more than 1.6 million visitors. Seven other daily attendance records were also set this year at The Big E, including an all-time single day attendance record of 178,608 visitors on Sept. 21. The Topsfield Fair, at No. 40, saw 418,170 visitors.

Running since 1916, The Big E is New England’s biggest fair. The fair brought live musical acts, carnival rides, agricultural competitions, and food vendors this past September. All six New England states are famously represented on its grounds.

The Topsfield Fair, America’s oldest agricultural fair (running for more than 200 years), featured carnival rides, food, live music, rodeos, art shows, exhibits, and nearly 300 vendors this past October.

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For those looking to help boost attendance in 2025, this year’s fair dates are Sept. 12-28 for The Big E and Oct. 3-13 for the Topsfield Fair.

North America’s No. 1 fair in 2024 is the Houston Livestock Show and Rodeo, which saw 2.5 million visitors.

Check out the top 50 fairs in the U.S. and Canada in 2024.

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Kristi Palma

Culture writer

 

Kristi Palma is a culture writer for Boston.com, focusing on New England travel. She covers airlines, hotels, and things to do across Boston and New England. She is the author of Scenic Six, a weekly travel newsletter.





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