Latest Mass job stats

Boston โ€“The Executive Office of Labor and Workforce Development reported today that preliminary November estimates show an increase of 5,000 jobs in Massachusetts, for a total of 3,245,400 jobs. The total unemployment rate was 7.0 percent, down 0.3 of a percentage point from the October rate of 7.3 percent, and well below the national rate of 8.6 percent. It is the lowest monthly rate since December of 2008.

Six of the ten private sectors added jobs in November with gains in Leisure and Hospitality; Trade, Transportation, and Utilities; Education and Health Services; Financial Activities; Professional, Scientific and Business Services; and Other Services. The November job gain follows a revised 11,900 job gain in October originally reported as 10,800.

Year-to-date (December 2010 to November 2011), 51,600 jobs have been added in the Bay State with 56,400 private sector jobs added. Over-the-year (November 2010 to November 2011), jobs are up 55,600, a growth rate of 1.7 percent, with private sector jobs up 59,900, for a growth rate of 2.2 percent. Over-the-year, the national rate of job growth is 1.2 percent with private sector job growth up 1.7 percent.

Employment Overview

Leisure and Hospitality added 4,300 (+1.4%) jobs over-the-month with gains in Accommodation and Food Services and Arts, Entertainment and Recreation. Over-the-year, the sector has added 6,400 (+2.1%) jobs as the Accommodation and Food Services component added 8,300 (+3.2%) jobs.

Trade, Transportation, and Utilities added 3,000 (+0.5%) jobs over-the-month with gains in Retail Trade and Wholesale Trade. Over-the-year, jobs in Trade, Transportation and Utilities are up 9,500 (+1.7%) with Retail Trade adding 6,100 (+1.8%) jobs, Wholesale Trade gaining 2,600 (+2.1%) jobs and Transportation, Warehousing and Utilities adding 800 jobs (+1.0%).

Education and Health Services added 900 (+0.1%) jobs over-the-month as both components recorded gains. Educational Services added 600 (+0.4%) jobs and Health Care and Social Assistance gained 300 (+0.1%) jobs. Over-the-year this sector has added 6,500 (+1.0%) jobs.

Financial Activities jobs were up 700 (+0.3%) over-the-month with a gain in Real Estate, Rental and Leasing. Over-the-year, jobs are up 3,500 (+1.7%) with a 1,200 (+0.7%) job gain in Finance and Insurance and a 2,300 (+5.8%) job gain in Real Estate, Rental and Leasing.

Professional, Scientific and Business Services gained 500 (+0.1%) jobs over-the-month, the sectorโ€™s twelfth consecutive monthly gain. Within the sector, both Administrative Services and Waste Services and Management of Companies and Enterprises added jobs. Over-the-year, the sector has added 22,900 (+5.0%) jobs.

Other Services added 400 (+0.3%) jobs over-the month. Over-the-year, jobs are up 4,400 (+3.8%).

Over-the-month, Mining and Logging employment remained unchanged while losing 100 (-8.3%) jobs over-the-year.

Over-the-month, Construction lost 1,400 (-1.3%) jobs. Over-the-year, this sector has added 1,900 (+1.8%) jobs with gains in Specialty Trade Contractors, Construction of Buildings, and Heavy and Civil Engineering Construction.

Manufacturing lost 1,400 (-0.5%) jobs over-the-month with losses in both Durable Goods and Non-Durable Goods. From November 2010 to November 2011, Manufacturing jobs are up 2,800 (+1.1%) with most of the gain in Non-Durable Goods.

Over-the-month, Information jobs were down 200 (-0.2%), but over-the-year, the sector has added 2,100 (+2.5%) jobs.

Over-the-month, Government lost 1,800 (-0.4%) jobs. Local Government lost 1,300 (-0.5%) jobs. Federal Government was down 300 (-0.6%) jobs while State Government lost 200 jobs (-0.2%). Over-the-year, Government jobs were down 4,300 (-1.0%).

Labor Force Overview

The November estimates show 3,251,500 Massachusetts residents were employed and 244,200 were unemployed, for a total labor force of 3,495,700. The labor force increased by 4,700 from 3,491,000 in October, as 13,900 more residents were employed and 9,200 fewer residents were unemployed over-the-month. Since October 2009, there are 83,100 more residents employed and 60,200 fewer residents unemployed as the labor force increased by 22,900. Totals for November may not add exactly due to rounding.

The unemployment rate is based on a monthly sample of households, while the job estimates are derived from a monthly sample survey of employers. As a result, the two statistics for November exhibit different trends.

Leave a Reply