BOSTON — A new study says the financial services industry in Massachusetts remains strong even though not all the jobs lost in the recession have been replaced.
Banks, insurance companies, money managers, and brokerage firms account for $36 billion, or 9 percent, of the state's total economic output, according to the study released Friday by Mass Insight, a Boston research firm, and consulting firm PricewaterhouseCoopers.
Although the sector has cut about 3 percent of its jobs in Massachusetts since 2009, it still employs nearly 166,000.
William Guenther, chairman and founder of Mass Insight, tells The Boston Globe (http://b.globe.com/Ikyclo ) it's the supporting sector that makes it possible for life sciences, health, and education to do well.
The report says the average salary for a financial services worker in Massachusetts was about $114,000 last year.
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Information from: The Boston Globe, http://www.bostonglobe.com
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