Unemployment Rate Drops to 5.6 Percent

Unemployment Rate Drops to 5.6 Percent

9,100 jobs added in May

BOSTON, MA –June 19, 2014 – The Bureau of Labor Statistics’ (BLS) preliminary estimates show that Massachusetts added 9,100 jobs in May and the total unemployment rate dropped 0.4 of a percentage point to 5.6 percent from the April rate.

Over the month, jobs were up 9,100 with private sector jobs up 8,800.  Since May 2013, Massachusetts has added a net of 49,700 jobs; with 51,300 jobs added in the private sector and 300 added in the public sector. The total unemployment rate was down 1.4 percent from the May 2013 rate of 7.0 percent.

Not only are Massachusetts jobs above the April 2008 highpoint before the latest recession, they also exceed the February 2001 pre-recession job level.

BLS also revised its April estimates downward to a 2,000 jobs loss from the 1,600 job loss previously reported for the month.


May 2014 Employment Overview

Leisure and Hospitality added 4,200 (+1.3%) jobs over the month. Over the year, Leisure and Hospitality added 3,900 (+1.2%) jobs.

Education and Health Services gained 3,300 (+0.4%) jobs over the month. Over the year, Education and Health Services gained 16,500 (+2.3%) jobs.

Financial Activities added 1,200 (+0.6%) jobs over the month. Over the year, Financial Activities added 1,100 (+0.5%) jobs.

Construction gained 900 (+0.7%) jobs over the month.  Over the year, Construction has added 2,100 (+1.7%) jobs.

Information added 500 (+0.6%) jobs over the month. Over the year, Information gained 4,400 (+5.1%) jobs.

Professional, Scientific and Business Services gained 400 (+0.1%) jobs over the month. Over the year, Professional, Scientific and Business Services added 10,400 (+2.1%) jobs.

Manufacturing added 200 (+0.1%) jobs over the month.  Over the year, Manufacturing lost 200 (-0.1%) jobs.

Other Services lost 1,100 (-0.9%) jobs over the month. Over the year, Other Services jobs are up 3,400 (+2.8%) jobs.

Trade, Transportation and Utilities lost 900 (-0.2%) jobs over the month.  Over the year, Trade, Transportation, and Utilities added 9,600 (+1.7%) jobs.

Government added 300 (+0.1%) jobs over the month.  Over the year, Government lost 1,600 (-0.4%) jobs.

Labor Force Overview

The May 2014 estimates show 3,304,500 Massachusetts residents were employed and 197,300 were unemployed, for a total labor force of 3,501,800. The May labor force decreased by 3,800 from 3,505,600 in April, as 8,800 more residents were employed and 12,700 fewer residents were unemployed over the month. The labor force was an estimated 15,200 above the 3,486,600 May 2013 estimate, with 63,400 more residents employed and 48,200 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.