www.wbjournal.com • Worcester Business Journal • 2 022 Economic Forecast 5
2017
L
ooking into the crystal ball last year, WBJ
readers had optimistic projections about the
Central Massachusetts economy. COVID would
be in the rearview, and businesses would be well
on their way to recovery.
It didn't quite turn out that way.
Looking into that same crystal ball for 2022 in WBJ's
annual Economic Forecast survey, our readers don't
have quite the same level of optimism for the upcoming
year, projecting stumbling blocks, such as a skilled
worker shortage, rising cost of living, and the lingering
pandemic, slowing a full-blown economic recovery.
As the next 12 months unfold, let's hope the economic
recovery goes better than we're currently projecting.
– Brad Kane, editor
Better, not great
How will the economy fair next year compared to this year?
Improve significantly Improve slightly Remain the same
Decline slightly Decline significantly
2020
2019
Do you think the Central Massachusetts economy is in better
or worse condition today than it was at this time last year?
Better Worse Not sure
2016
2017
2018
2020
2019
2018
2016
12%
15%
3%
4%
26%
56%
50%
32%
50%
46%
19% 9% 4%
19% 16%
29% 30%
6%
0%
30% 15%
1%
11% 11% 6%
79%
5%
16%
85%
8% 7%
77% 8% 15%
89% 5% 6%
76% 19%
ECONOMIC FORECAST 2022
WBJ reader's survey
8% 53% 23% 11% 5%
2021
70% 13%
17%
5%
2021
How concerned are you that you'll be able to find
people with the right skills to do the job?
Very Mildly Not at
concerned concerned all concerned
2016
2017
2018
2019
35% 12% 43%
50% 37% 13%
72% 27% 1%
38% 47% 15%
33% 37% 30%
2020
2021
57% 29% 14%
