The unemployment rate in the City of Fall River in January rose sharply to 6.4%, up from 5.0% in December.
The Massachusetts Executive Office of Labor and Workforce Development reports that the labor force in Fall River in January totaled 41,093 employees. 2,631 people were recorded as unemployed. The 6.4% unemployment rate for January compares to the 7.6% unemployment rate for January of 2023.
Here are the rates of communities surrounding Fall River:
Somerset, 4.1% (3.4% in December)
Swansea, 3.8% (2.9% in December)
Westport, 4.6% (3.4% in December)
Freetown, 3.9% (3.3% in December)
Here are the rates in select Gateway Cities across Eastern Massachusetts last month:
New Bedford, 6.0% (5.2% in December)
Taunton, 4.2% (3.8% in December)
Brockton, 4.7% (4.3% in December)
Lowell, 4.1% (3.9% in December)
Lawrence, 6.2% (5.8% in December)
The state unemployment rate for January dropped two-tenths of a point to 3.0%. Here is more information from the state Executive Office of Labor and Workforce Development:
From the Executive Office of Labor and Workforce Development
BOSTON, MA March 12, 2024 — Local unemployment rates increased in twenty-three labor market areas and remained unchanged in one labor market area in the state during the month of January 2024 compared to December 2023, the Executive Office of Labor and Workforce Development reported.
Compared to January 2023, the rates were down in twenty-four labor market areas.
Of the fifteen areas for which employment estimates are published, all fifteen NECTA areas lost jobs compared to the previous month. The largest percentage decreases occurred in the Brockton-Bridgewater-Easton (-3.5%), Leominster-Gardner (-3%), and Barnstable Town (-2.3%) areas.
From January 2023 to January 2024, eleven areas gained jobs with the largest percentage increases seen in the Barnstable Town (+5.7%), Lynn-Saugus-Marblehead (+3.2%), and Pittsfield (+1.8%) areas.
The statewide seasonally adjusted preliminary jobs estimate showed an increase of 18,300 jobs in January, and an over-the-year gain of 25,800 jobs.
In order to compare the statewide rate to local unemployment rates, the U.S. Department of Labor’s Bureau of Labor Statistics estimates the statewide unadjusted unemployment rate for January 2024 was 3.5%, up 0.3 percentage points from the revised December 2023 estimate and was the 0.6 percentage points below the nation’s unadjusted unemployment rate of 4.1%.
Last week, the Executive Office of Labor and Workforce Development reported the statewide seasonally adjusted unemployment rate in the month of January 2024 was 3.0%, down 0.2 percentage points compared to the revised December 2023 estimate. The Bureau of Labor Statistics reported the nation’s seasonally adjusted unemployment rate for January 2024 remained steady at 3.7%.
The unadjusted unemployment rates and job estimates for the labor market areas reflect seasonal fluctuations and therefore may show different levels and trends than the statewide seasonally adjusted estimates.
The estimates for labor force, unemployment rates, and jobs for Massachusetts are based on different statistical methodology specified by the Bureau of Labor Statistics.
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