NEW: Unemployment Drops to 5.6 Percent as Mass. Adds 9,100 Jobs
Thursday, June 19, 2014
"Not only are Massachusetts jobs above the April 2008 highpoint before the latest recession, they also exceed the February 2001 pre-recession job level," a statement from the Executive Office of Labor said. The unemployment rate dropped from 7% to 5.6% from May 2013 to May 2014 as the state added a net of nearly 50,000 jobs.
Statistics from the BLS are included below. Local area unemployment statistics will be released next week.
May 2014 Employment Overview
- Leisure and Hospitality added 4,200 (+1.3%) jobs over the month. Over the year, Leisure and Hospitality added 3,900 (+1.2%) jobs.
- Education and Health Services gained 3,300 (+0.4%) jobs over the month. Over the year, Education and Health Services gained 16,500 (+2.3%) jobs.
- Financial Activities added 1,200 (+0.6%) jobs over the month. Over the year, Financial Activities added 1,100 (+0.5%) jobs.
- Construction gained 900 (+0.7%) jobs over the month. Over the year, Construction has added 2,100 (+1.7%) jobs.
- nformation added 500 (+0.6%) jobs over the month. Over the year, Information gained 4,400 (+5.1%) jobs.
- Professional, Scientific and Business Services gained 400 (+0.1%) jobs over the month. Over the year, Professional, Scientific and Business Services added 10,400 (+2.1%) jobs.
- Manufacturing added 200 (+0.1%) jobs over the month. Over the year, Manufacturing lost 200 (-0.1%) jobs.
- Other Services lost 1,100 (-0.9%) jobs over the month. Over the year, Other Services jobs are up 3,400 (+2.8%) jobs.
- Trade, Transportation and Utilities lost 900 (-0.2%) jobs over the month. Over the year, Trade, Transportation, and Utilities added 9,600 (+1.7%) jobs.
- Government added 300 (+0.1%) jobs over the month. Over the year, Government lost 1,600 (-0.4%) jobs.
Labor Force Overview
The May 2014 estimates show 3,304,500 Massachusetts residents were employed and 197,300 were unemployed, for a total labor force of 3,501,800. The May labor force decreased by 3,800 from 3,505,600 in April, as 8,800 more residents were employed and 12,700 fewer residents were unemployed over the month. The labor force was an estimated 15,200 above the 3,486,600 May 2013 estimate, with 63,400 more residents employed and 48,200 fewer residents unemployed.
The unemployment rate is based on a monthly sample of households. The job estimates are derived from a monthly sample survey of employers. As a result, the two statistics may exhibit different monthly trends.
Related Slideshow: New England States Battle Over Jobs
Here are several examples of business and job raiding by and against New England states, according to the Good Jobs First report,
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