The unemployment rate in the City of Fall River in August dropped one-tenth of a percent to 6.4%, down from 6.5% in July.
The Massachusetts Executive Office of Labor and Workforce Development reports that the labor force in Fall River in August totaled 41,878 employees. 2,669 people were recorded as unemployed. The 6.5% unemployment rate for August compares to the 4.9% for August 2023.
Here are the rates of communities surrounding Fall River:
Somerset, 4.9% (5.1% in July)
Swansea, 3.6% (3.7% in July)
Westport, 4.9% (5.1% in July)
Freetown, 4.0% (4.4% in July)
Here are the rates in select Gateway Cities across Eastern Massachusetts last month:
New Bedford, 6.3% (6.3% in July)
Taunton, 5.5% (5.6% in July)
Brockton, 6.1% (6.0% in July)
Lowell, 5.7% (5.7% in July)
Lawrence, 8.2% (7.8% in July)
The state unemployment rate for August rose two-tenths of a percent to 3.7%. 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 September 24, 2024 — Local unemployment rates decreased in eight and held constant in eleven of twenty-four labor market areas in the state during the month of August 2024 compared to July 2024, the Executive Office of Labor and Workforce Development reported.
Compared to August 2023, the rates were up in all twenty-four labor market areas.
Of the fifteen areas for which employment estimates are published, four NECTA area gained jobs compared to the previous month. The largest percentage increase occurred in the Brockton-Bridgewater-Easton area (0.5%). The largest percentage decreases occurred in the Barnstable Town (-0.9%), Framingham (-0.8%), and Springfield MA-CT (-0.5%) areas.
From August 2023 to August 2024, thirteen areas gained jobs with the largest percentage increases seen in the Peabody-Salem-Beverly (+2.9%), Leominster-Gardner (+2.3%), and Lynn-Saugus-Marblehead (+2.2%) areas.
The statewide seasonally adjusted preliminary jobs estimate showed an increase of 1,300 jobs in August, and an over-the-year gain of 40,000 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 August 2024 was 4.5%, down 0.1 percentage point from the revised July 2024 estimate and was 0.1 percentage point above the nation’s unadjusted unemployment rate of 4.4%.
Last week, the Executive Office of Labor and Workforce Development reported the statewide seasonally adjusted unemployment rate in the month of August 2024 was 3.7%, up 0.2 percentage points compared to the revised July 2024 estimate. The Bureau of Labor Statistics reported the nation’s seasonally adjusted unemployment rate for August 2024 decreased by 0.1 percentage points over-the-month to 4.2%.
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 methodologies specified by the Bureau of Labor Statistics.
