MA Unemployment Rate Drops to 6.8 Percent in January

REVISED DATA SHOW MASSACHUSETTS ADDED 55,200 JOBS IN 2013

Unemployment Rate Drops to 6.8 Percent in January

BOSTON, MA – March 6, 2014 – The Executive Office of Labor and Workforce Development (EOLWD) today released annual revisions that show Massachusetts added 55,200 jobs in 2013, with private sector job gains of 54,400.This represents the largest number of jobs created in a December-December period since 2000.The Professional, Scientific, and Business Services and Education and Health Services sectors added the most jobs in 2013. 

The Executive Office also released preliminary January 2014 estimates that show that the Massachusetts total unemployment rate dropped 0.3 a percentage point to 6.8 percent from the revised December 2013 rate, and jobs were down 4,500. 

Over the month, private sector jobs were down 1,600, although there were gains in five sectors. Over the year, January 2013 to January 2014, jobs were up 50,000.  Private sector jobs were up 49,900 with gains in eight of the nine sectors. Professional, Scientific, and Business Services; Education and Health Services; and Leisure and Hospitality had the largest gains.  Manufacturing recorded the only loss.

Since January 2013, the unemployment rate fell 0.1 of a percentage point from 6.9 percent. The revised unemployment rates indicate rates were higher in 2013 than previously published.

January 2014 Employment Overview

Construction gained 2,900 (+2.4%) jobs over the month.  Over the year, Construction added 4,900 (+4.1%) jobs.

Information added 1,600 (+1.8%) jobs over the month. Over the year, Information gained 4,100 (+4.8%) jobs.

Leisure and Hospitality gained 800 (+0.2%) jobs over the month. Over the year, Leisure and Hospitality added 9,600 jobs (+2.9%).

Financial Activities added 700 (+0.3%) jobs over the month. Over the year, Financial Activities gained 1,600 (+0.8%) jobs.

Education and Health Services added 700 (+0.1%) jobs over the month. Over the year, Education and Health Services gained 10,900 (+1.5%) jobs. 

Other Services had no change in its jobs level over the month. Over the year, Other Services added 2,500 (+2.0%) jobs.

Trade, Transportation and Utilities lost 6,700 (-1.2%) jobs over the month.  Over the year, Trade, Transportation, and Utilities added 3,900 (+0.7%) jobs.

Government lost 2,900 (-0.7%) jobs over the month.  Over the year, Government gained 100 jobs (0.0%).

Professional, Scientific and Business Services lost 1,400 (-0.3%) jobs over the month. Over the year, Professional, Scientific and Business Services added 13,500 (+2.7%) jobs.

Manufacturing lost 300 (-0.1%) jobs over the month.  Over the year, Manufacturing lost 1,200 (-0.5%) jobs.

Labor Force Overview

The January 2014 estimates show 3,248,400 Massachusetts residents were employed and 237,100 were unemployed, for a total labor force of 3,485,500. The January labor force increased by 2,400 from 3,483,100 in December 2013, as 11,600 more residents were employed and 9,200 fewer residents were unemployed over the month. The labor force was an estimated 6,600 above the 3,478,900 January 2013 estimate, with 8,300 more residents employed and 1,700 fewer residents unemployed.  

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.