The unemployment rate in the City of Fall River in February rose to 6.7%, up from 6.4% in January.
The Massachusetts Executive Office of Labor and Workforce Development reports that the labor force in Fall River in February totaled 41,027 employees. 2,743 people were recorded as unemployed. The 6.7% unemployment rate for February compares to the 8.3% unemployment rate for February of 2023.
Here are the rates of communities surrounding Fall River:
Somerset, 4.4% (4.1% in January)
Swansea, 3.9% (3.8% in January)
Westport, 5.0% (4.6% in January)
Freetown, 4.3% (3.8% in January)
Here are the rates in select Gateway Cities across Eastern Massachusetts last month:
New Bedford, 6.2% (6.0% in January)
Taunton, 4.5% (4.2% in January)
Brockton, 4.8% (4.7% in January)
Lowell, 4.3% (4.1% in January)
Lawrence, 6.6% (6.2% in January)
The state unemployment rate for February dropped to 2.9%. 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 26, 2024 — Local unemployment rates increased in twenty-two labor market areas and remained unchanged in two labor market areas in the state during the month of February 2024 compared to January 2024, the Executive Office of Labor and Workforce Development reported.
Compared to February 2023, the rates were down in twenty-four labor market areas.
Of the fifteen areas for which employment estimates are published, fourteen NECTA areas gained jobs compared to the previous month. The largest percentage increases occurred in the Brockton-Bridgewater-Easton (+1.3%), Springfield MA-CT (+1.1%), and Leominster-Gardner (+1%) areas.
From February 2023 to February 2024, twelve areas gained jobs with the largest percentage increases seen in the Barnstable Town (+5.7%), Lynn-Saugus-Marblehead (+2.9%), and Pittsfield (+2.3%) areas.
The statewide seasonally adjusted preliminary jobs estimate showed an increase of 6,300 jobs in February, and an over-the-year gain of 24,800 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 February 2024 was 3.7%, up 0.2 percentage points from the revised January 2024 estimate and was the 0.5 percentage points below the nation’s unadjusted unemployment rate of 4.2%.
Last week, the Executive Office of Labor and Workforce Development reported the statewide seasonally adjusted unemployment rate in the month of February 2024 was 2.9%, down 0.1 percentage point compared to the revised January 2024 estimate. The Bureau of Labor Statistics reported the nation’s seasonally adjusted unemployment rate for February 2024 increased by 0.2 percentage points over-the-month to 3.9%.
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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