The unemployment rate in Massachusetts for July fell to 2.5%, down from 2.6% in June.
From the Executive Office of Labor and Workforce Development
BOSTON, MA – August 18, 2023 — The state’s July total unemployment rate was 2.5 percent, down 0.1 percentage point from the revised June estimate of 2.6 percent , the Executive Office of Labor and Workforce Development announced Friday.
The Bureau of Labor Statistics (BLS) preliminary job estimates indicate Massachusetts gained 12,500 jobs in July This follows June’s revised gain of 1,400 jobs. The largest over-the-month private sector job gains were in Trade, Transportation, and Utilities, Education and Health Services, and Information. Employment now stands at 3,781,200. Massachusetts gained 719,600 jobs since the employment low in April 2020. Employment now stands at 3,781,200. Massachusetts gained 719,600 jobs since the employment low in April 2020.
From July 2022 to July 2023, BLS estimates Massachusetts gained 90,300 jobs. The largest over-the-year gains occurred in Education and Health Services, Professional, Scientific, and Business Services, and Leisure and Hospitality.
The state’s July unemployment rate of 2.5 percent was 1.0 percentage point below the national rate of 3.5 percent reported by BLS.
The labor force decreased by an estimated 5,200 from the revised estimate of 3,720,900 in June, as 1,200 fewer residents were employed, and 4,000 fewer residents were unemployed over-the-month.
Over-the-year, the state’s seasonally adjusted unemployment rate was down by 1.2 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 0.1 percentage point to 64.5 percent over-the-month. Compared to July 2022, the labor force participation rate was down 0.6 percentage points.
July 2023 Employment Overview
Government gained 4,800 jobs over-the-month. Over-the-year, 5,000 were added.
Trade, Transportation, and Utilities gained 2,600 jobs over-the-month. Over-the-year, 9,700 were added.
Education and Health Services gained 2,500 jobs over-the-month. Over-the-year, 28,300 were added.
Information gained 1,100 jobs over-the-month. Over-the-year, 1,500 were added.
Leisure and Hospitality gained 800 jobs over-the-month. Over-the-year, 13,600 were added.
Professional, Scientific, and Business Services gained 700 jobs over-the-month. Over-the-year, 19,100 were added.
Other Services gained 700 jobs over-the-month. Over-the-year, 2,200 were added.
Construction gained 200 jobs over-the-month. Over-the-year, 6,900 were added.
Financial Activities had no change in jobs over-the-month. Over-the-year, 5,100 were added.
Manufacturing lost 900 jobs over-the-month. Over-the-year, 1,200 were lost.
Labor Force Overview
The July estimates show 3,623,700 Massachusetts residents were employed and 92,000 were unemployed, for a total labor force of 3,715,700. The unemployment rate at 2.5 percent was down 0.1 percentage point from the revised June rate of 2.6 percent. Over-the-month, the July labor force declined by 5,200 from 3,720,900 in June, with 1,200 fewer residents employed and 4,000 fewer residents unemployed. The labor force participation rate, the share of the working age population employed and unemployed, dropped 0.1 percentage point over-the-month to 64.5 percent. The labor force was down 29,000 from the July 2022 estimate of 3,744,700, with 16,200 more employed residents, and 45,100 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.
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