HADLEY – Massachusetts is adding jobs, growing its workforce and growing its population, according to the economists behind MassBenchmarks, a study of the state’s economy prepared by the Donahue Institute at the University of Massachusetts.

Also, lower oil prices could add as much as half a percentage point to national economic growth this year, MassBenchmarks economists said. That’s a considerable improvement that helps Massachusetts more than most states because there is no oil or gas extraction industry here.

The economists reported Tuesday afternoon a summary of their discussions and perspectives on the economy.

From the report:

“State gross product growth has kept pace with strong national growth for the past two quarters. State job growth has been steady, with software, information technology, and staffing services sectors doing well. The Commonwealth’s labor force has grown consistently since June, as workers who were previously discouraged re-enter the labor market. And strikingly, Massachusetts has the fastest growing population not only in New England, but in all of the northeastern United States. This is in large part due to international immigration and a lower level of domestic net outmigration than has been experienced in recent recoveries.”

The national jobs report for October was “especially strong,” the economists said, with more than 300,000 jobs added, an increase in the average workweek, modestly rising wages, and upward revisions in job growth for August and September.

But MassBenchmark editors warn that there are challenges:

• Electricity prices and insufficient supply of natural gas to power electricity generators.
• Federal government spending with private sector contractors and non-profit research institutions like universities and hospitals will continue to be squeezed as the federal budget gets tight.
• Many young adults are burdened with student debt and are having trouble finding high-paying jobs.
• Student debt leads to slow housing sales, especially to first-time buyers.