The unemployment rate in Massachusetts for December was 3.3 percent, down from November.
From the Executive Office of Labor and Workforce Development
BOSTON, MA – January 20, 2023 — The state’s December total unemployment rate was 3.3 percent, down one-tenth of a percentage point over-the-month , the Executive Office of Labor and Workforce Development announced Friday.
The Bureau of Labor Statistics’ preliminary job estimates indicate Massachusetts gained 6,300 jobs in December. This follows last month’s revised gain of 15,800 jobs. The largest over-the-month private sector job gains were in Professional, Scientific, and Business Services, Trade, Transportation, and Utilities, and Leisure and Hospitality. Employment now stands at 3,732,900. Since the employment trough in April 2020, Massachusetts gained 681,900 jobs.
From December 2021 to December 2022, BLS estimates Massachusetts gained 134,500 jobs. The largest over-the-year gains occurred in Leisure and Hospitality, Education and Health Services, and Professional and Business Services.
The December unemployment rate of 3.3 percent was two-tenths of a percentage point below the national rate of 3.5 percent reported by the Bureau of Labor Statistics.
The labor force decreased by an estimated 7,500 from 3,732,400 in November, with 6,850 fewer residents employed, and 600 fewer residents unemployed over-the-month.
Over-the-year, the state’s seasonally adjusted unemployment rate was down by 1.3 percentage points.
The state’s labor force participation rate – the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks – dropped by 0.2 percentage points to 65.1 percent over-the-month. Compared to December 2021, the labor force participation rate was down four-tenths of a percentage point.
December 2022 Employment Overview
Professional, Scientific, and Business Services gained 3,600 jobs over-the-month. Over the year, 30,600 were added.
Trade, Transportation, and Utilities gained 1,300 jobs over-the-month. Over-the-year, 16,100 were added.
Leisure and Hospitality gained 1,200 jobs over-the-month. Over-the-year, 24,600 were added.
Other Services gained 1,100 jobs over-the-month. Over-the-year, 300 was lost.
Financial Activities gained 1,000 jobs over-the-month. Over-the-year,6,100 were added.
Construction gained 200 jobs over-the-month. Over-the-year, 10,000 were added.
Government lost 100 jobs over-the-month. Over-the-year, 12,400 were added.
Manufacturing lost 500 jobs over-the-month. Over-the-year,5,000 were added.
Education and Health Services lost 700 jobs over-the-month. Over-the-year, 26,000 were added.
Information lost 800 jobs over-the-month. Over-the-year, 4,000 were added.
Labor Force Overview
The December estimates show 3,600,400 Massachusetts residents were employed and 124,500 were unemployed, for a total labor force of 3,724,900. The unemployment rate at 3.3 percent was down 0.1 percentage point from the revised November rate of 3.4 percent. Over-the-month, the December labor force declined by 7,500 from 3,732,400 in November, as 6,850 fewer residents were employed, and 600 fewer residents were unemployed. The labor force participation rate, the share of working age population employed and unemployed, decreased by 0.2 of a percentage point to 65.1 percent over-the-month. The labor force was down 26,600 from the December 2021 estimate of 3,751,500, with 23,100 more employed residents, and 49,700 fewer unemployed residents.
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.
NOTES: The labor force is the sum of the numbers of employed residents and those unemployed, that is residents not working but actively seeking work in the last four weeks. Estimates may not add up to the total labor force due to rounding. For further information on seasonal adjustment methodology, please refer to the Bureau of Labor Statistics website https://www.bls.gov.
Comments are closed.