The economy is shaping up to be a major issue in the presidential election, with some saying it will make or break President Barack Obama’s chances of fending off the challenge from Mitt Romney.
So how’s Cambridge’s economy? Heavy on information – academics and medical patents – and low on unemployment.
The Cambridge unemployment rate –at 4.1 percent in November 2011 – is lower than the Greater Boston rate – 5.4 percent at that time – lower than the Massachusetts rate – 6.4 percent – and exactly half of the national rate. The national rate has since dropped slightly to 8.1 percent, according to the Bureau of Labor statistics.
The biggest employers are labs and universities and the majority of the city’s residents are employed in education, health or other professional fields.