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MA Unemployment Rate Stays at 4.7%, 7,100 Jobs Added in December

Friday, January 22, 2016

 

Massachusetts' total unemployment rate stayed at 4.7 percent in December while Massachusetts added 7,100 jobs in December. 

Over the the month, job gains occurred in the Education and Health Services; Professional, Scientific, and Business Services; Information: other Services; Construction; Manufacturing; and Financial Activities sectors. 

"The Commonwealth's strong gains in 2015 reflect the strength and diversity of our economy. The preliminary over the year job gain estimates indicate the strongest over year job gains since 2000," said Labor and Workforce Development Secretary Ronald Walker, II. 

The state's unemployment rate remains lower than the national rate of 5.0 percent, according to the Bureau of Labor Statistics. 

Overall, estimates show that 3,390,500 Massachusetts residents were employed during the month and 168,500 were unemployed for a total labor force of 3,559,000. 

 

Related Slideshow: Massachusetts Business Rankings

See how Massachusetts stacked up.

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WalletHub

Massachusetts has 2015's 28th highest insurance premium penalties for high risk drivers, according to a WalletHub report. 

Mass is behind Colorado and New Mexico who come in at 26 and 27 spots respectively while Mass is ahead of Tennessee and the District of Columbia who rank 29 and 30 respectively. 

Massachusetts ranks 14th overall in the category of DUI conviction annual premium increase with an amount of $756.

Massachusetts ranks 20th overall in the category of speeding over 20 mph annual premium increase with a total of $261 while ranking 21 overall in the category of  two accidents annual premium increase with a total of $1,364. 

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WalletHub

Massachusetts has been ranked as the 5th most eco-friendly state in the country, according to a recent study by WalletHub. 

Mass ranks tenth in environmental quality and fourth in Eco-Friendly Behaviors landing them in 8th overall. 

Mass is behind Minnesota and New York who are in the fourth and third spots respectively, and in front of Washington and New Hampshire  who come in at the six and seven spots. 

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The Economist

Small Business Friendliness Grade: D+

The Economist grades states on an A+ to F grading scale for its small business climate. Massachusetts ranks near the bottom of the nation, joining New Mexico and New York in receiving D+ grades.  9 states scored worse than a D+ in the Economist rankings. 

Overbearing bureaucracy and excessive licensing is stifling small business in America. 

Read More About The Economist Grade Here

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CNBC

#25 CNBC

CNBC ranks each state in cost of doing business, economy, technology and innovation.

Massachusetts' unemployment rate as of May 2014 was 5.6 percent. The state added 9,100 jobs in the month of May.

Read More About CNBC Ranking Here

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Forbes

#13 Forbes

Forbes ranks each state in business costs, economic climate, and growth prospects.

The most damning in the commentary:

Massachusetts’ business costs, including labor, energy and taxes, are the highest of the 48 contiguous states—only Hawaii is higher—at 20% above the national average.

Read More About Forbes Ranking Here

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ChiefExecutive.net

#47 ChiefExecutive.net

ChiefExecutive.net ranks each state in taxations and regulations, workforce quality, and living environment.

The most damning in the commentary:

Taxation and regulation are always the key barometers. Massachusetts and Oregon are the worst.

Read More About ChiefExecutive.net Ranking Here

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Tax Foundation

#25 Tax Foundation

Tax Foundation ranks each state in corporate tax rank, sales tax rank, and unemployment insurance tax rank.

Massachusetts ranked #49 in unemployment insurance tax.

Read More About Tax Foundation Ranking Here

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Wallet Hub

#10 Wallet Hub

Wallet Hub ranks each state in ROI rank, state tax rank, and overall government services.

Massachusetts ranked #49 in worst roads and bridges, but ranked #7 in overall government services.

Read More About Wallet Hub Ranking Here

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ALEC

#41 ALEC

ALEC ranks each state in economic performance and outlook.

Although Massachusetts ranked low in economic performance, a forward-looking forecast is based on the state’s standing in 15 important state policy variables. Some of these variables include top marginal personal income tax rate and sales tax burden.

Read More About ALEC Ranking Here

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Kauffman Foundation

#29 Kauffman Foundation

Kauffman Foundation ranks each state in entrepreneurship.

Entrepreneurial activity generally is highest in Western and Southern states
and lowest in Midwestern and Northeastern states.

Read More About Kauffman Foundation Ranking Here

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Free Enterprise

#18 Free Enterprise

Free Enterprise ranks each state in performance, exports, innovation + entrepreneurship, business climate, talent pipeline, infrastructure.

Massachusetts's reputation as a hotspot for science and technology endures in this year's rankings. The commonwealth is a center for STEM jobs and university research and development, ranking 4th and 2nd, respectively, in those two categories. It also ranks 6th as a center for high-tech establishments. Massachusetts is taking aggressive steps to bolster economic activity with high-impact university-industry R&D projects and new tools for tech-based startup companies.

Read More About Free Enterprise Ranking Here

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The Pew Charitable Trusts

#45 The Pew Charitable Trusts

The Pew Charitable Trusts ranks each state in job growth and job creation.

Massachusetts added 38,368 jobs in 2014.

Read More About The Pew Charitable Trusts Ranking Here

 
 

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