Although statistical trends point to a stabilized economic outlook for the economy in and around Boston, produce vendors in the area say their numbers don’t necessarily support those findings.
“It’s flat, I guess — about the same,” said Mark Ruma, general manager of Ruma’s Fruit & Gift Basket World on the Boston Terminal Market, Everett, Mass.
The seasonally adjusted unemployment rate in Massachusetts was 6.5% in March 2013, down from 6.7% a month earlier and virtually identical to the 6.6% figure in March 2013, according to the U.S. Bureau of Labor Statistics.
The region’s largest business organization, the New England Council, reported in the fall of 2012 that the Massachusetts economy was in the fourth year of a growth period that began in mid-2009. Real gross state product was 4.5% above its prerecession peak, and 87% of the 143,000 jobs lost in the recession had been regained.
The council noted trends toward improvement in the area’s economy, particularly in the labor market, which it said had “improved markedly since the recovery began.”
Unemployment in Massachusetts peaked at 8.7% in December 2009 before beginning a steady descent to its current 6.5%, the council reported.
“My sense is that there’s still a lot of people not fully employed, even if they have some work,” said Peter John Condakes, president of Chelsea, Mass.-based Peter Condakes Co. Inc.
Consumers remain in cost-cutting mode, which affects produce sales, Condakes said.
“It’s tough for a regular family to eat the recommended nine servings a day and be cost-effective in their minds,” Condakes said. “That’s the challenge we face.”
Condakes cited, as an example, a comparatively low price on a box of macaroni and cheese, which looks compelling when compared to up-front cost of fruits and vegetables.
“Even though produce is priced the way it is, in terms of what you get for it, in terms of your health, it’s a bargain, but that’s a hard thing to sell because everybody is price- and box-first, and they have to try and make their paycheck go as far as they can,” he said.
It’s important to differentiate the economies of Boston and Massachusetts, said Sam Rocco, president of Chelsea-based wholesaler BC Produce Inc.
“The economy here in the Boston area never went down. We have a very stable economy here,” he said, pointing to education and biotechnology as lynchpins of the local economy. “Once you get out of Boston, it’s different.”