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April ’22 Quarterly Economic Development Update

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The first three months of 2022 have already passed, and as spring arrives we will take a look at two data points important to the Merrimack Valley’s economy: unemployment and available commercial properties.

Unemployment in the region has ticked slightly upward, a trend seen across the state. Despite this, many of our communities are close to returning to their pre-pandemic unemployment levels, a milestone in the recovery from the COVID-19 recession. See more information in the table below and graph above.

MVPC also completed an update of our available commercial properties, which can be viewed here. This tool allows prospective businesses to search for properties to lease or buy, and can search the database by size, type, location, and other factors. Although commercial vacancy rates sit at or near all time lows, there are still many desirable properties available for sale or lease. Check them out and reach out to our Community & Economic Development department if you want additional information on the available properties in the region!

Community March ’20 Unemployment % March ’22 Unemployment %
Amesbury 2.7 3.4
Andover 2.2 2.8
Boxford 1.9 2.8
Georgetown 2.2 3.1
Groveland 2.5 3.4
Haverhill 2.2 4.7
Lawrence 5.1 8.8
Merrimac 2.5 2.6
Methuen 3.2 5.7
Newbury 2.6 4.2
Newburyport 2.4 2.5
North Andover 2.3 3.4
Rowley 3.3 4.0
Salisbury 3.4 4.2
West Newbury 2.1 2.8