Massachusetts Miracle
Period of economic growth in the 1980s / From Wikipedia, the free encyclopedia
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The Massachusetts Miracle was a period of economic growth in Massachusetts during most of the 1980s. Before then, the state had been hit hard by deindustrialization and resulting unemployment. During the Miracle, the unemployment rate fell from more than 12% in 1975 to less than 3%, which was accompanied by tax reductions and a drastic increase in personal income.[1]