Are New England wages reverting to the mean, thus growing jobs?

New England as a region has the lowest unemployment rate in the nation, while at the same time having the highest total compensation costs, according to the U.S. Bureau of Labor Statistics. But job growth in the region has been accompanied by a relative lowering of those costs, proven by the positive correlation between changes from 2006 to 2016 in total compensation and the unemployment rate. / Source: U.S. Bureau of Labor Statistics
New England as a region has the lowest unemployment rate in the nation, while at the same time having the highest total compensation costs, according to the U.S. Bureau of Labor Statistics. But job growth in the region has been accompanied by a relative lowering of those costs, proven by the positive correlation between changes from 2006 to 2016 in total compensation and the unemployment rate. / Source: U.S. Bureau of Labor Statistics
At least in terms of unemployment statistics, New ­England must be doing something right. By more than a full percentage point at the end of 2016, the six-state region had a jobless rate lower than broad swaths of the rest of the country, 3.6 percent, compared with up to 5.5 percent in Alabama, Kentucky, Mississippi…

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