Boston's economy better than most

A new federal report could make Boston a more popular destination for people who are moving.

The city was one of the few in the country that has actually seen improving home prices, according to the Federal Reserve Board's latest "Beige Book" report. Along with Minneapolis and San Francisco, home prices in Boston rose while most other cities reported declines or price stability.

Additionally, certain sectors of the job market in Boston are reporting improved outlooks. According to the report, more temporary workers in the city are being converted to permanent status. A number of the city's residents are still having a hard time finding a job, but the report added that some firms - particularly in the software and IT industries - "are giving significant pay raises" and showing "an increased willingness to pay higher wages." Retail and tourist outlets have remained cautious given less-than-stellar sales recently, but manufacturers and software developers in the city are taking on an increasingly positive outlook.

Unemployment in Massachusetts remains a drain on moving activity there, but the state's jobs picture is better than most. At 9.0 percent, Massachusetts' unemployment rate is lower than the national rate of 9.6 percent.


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