So much for progress on the jobs front.Last month, Governor Patrick was trumpeting the news that Massachusetts employers had added 10,000 new jobs in October, following two straight months of job losses. But those short-term gains threaten to be swept away by a series of layoff announcements that have been making headlines since the November 2 election.
Today's announcement that State Street is eliminating 400 jobs follows reports of significant job losses at other big-name employers, including Genzyme, Biogen and Raytheon. General Electric, which has already laid off 600 workers this year, is threatening to cut even more jobs, but is asking the state for a $25 million tax credit to limit the number of new job cuts to 150.
Clearly the state's economy is not "on the mend and on the move," as Governor Patrick would like everyone to believe. Unless serious steps are taken to make Massachusetts more competitive, jobs will continue to disappear from our state at an alarming rate.
