The Massachusetts unemployment rate dropped one-tenth of a percent in August to 2.6 percent. That is well below the national jobless rate of 3.8 percent.
From the Executive Office of Labor and Workforce Development
BOSTON, MA – September 15, 2023 — The state’s August total unemployment rate was 2.6 percent, up 0.1 percentage point from the revised July estimate of 2.5 percent, the Executive Office of Labor and Workforce Development announced Friday.
The Bureau of Labor Statistics (BLS) preliminary job estimates indicate Massachusetts gained 15,400 jobs in August. . This follows July’s revised gain of 4,600 jobs. The largest over-the-month private sector job gains were in Education and Health Services, Leisure and Hospitality, and Other Services. Employment now stands at 3,788,700.
From August 2022 to August 2023, BLS estimates Massachusetts gained 90,500 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 August unemployment rate of 2.6 percent was 1.2 percentage points below the national rate of 3.8 percent reported by BLS.
The labor force grew by an estimated 2,000 from the revised estimate of 3,715,300 in July, as 4,300 fewer residents were employed, and 6,300 more residents were 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 – remained unchanged at 64.5 percent over-the-month. Compared to August 2022, the labor force participation rate was down 0.6 percentage points.
August 2023 Employment Overview
Government gained 6,500 jobs over-the-month. Over-the-year, 4,500 were added.
Education and Health Services gained 3,500 jobs over-the-month. Over-the-year, 27,600 were added.
Leisure and Hospitality gained 2,100 jobs over-the-month. Over-the-year, 17,800 were added.
Other Services gained 1,900 jobs over-the-month. Over-the-year, 3,200 were added.
Financial Activities gained 1,400 jobs over-the-month. Over-the-year, 6,300 were added.
Construction gained 1,000 jobs over-the-month. Over-the-year, 7,900 were added.
Professional, Scientific, and Business Services gained 800 jobs over-the-month. Over-the-year, 18,300 were added.
Manufacturing lost 400 jobs over-the-month. Over-the-year, 1,700 were lost.
Trade, Transportation, and Utilities lost 600 jobs over-the-month. Over-the-year, 8,200 were added.
Information lost 800 jobs over-the-month. Over-the-year, 1,700 were lost.
Labor Force Overview
The August estimates show 3,619,100 Massachusetts residents were employed and 98,100 were unemployed, for a total labor force of 3,717,300. The unemployment rate at 2.6 percent was up 0.1 percentage point from the revised July rate of 2.5 percent. Over-the-month, the August labor force increased by 2,000 from 3,715,300 in July, with 4,300 fewer residents employed and 6,300 more residents unemployed. The labor force participation rate, the share of the working age population employed and unemployed, remained unchanged over-the-month at 64.5 percent. The labor force was down 27,300 from the August 2022 estimate of 3,744,500, with 19,600 more employed residents, and 46,900 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.
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