Massachusetts unemployment dropped slightly to 3.9% in May
Photo | Grant Welker
Customers and workers inside B.T.'s Fried Chicken and BBQ in Worcester.
The Executive Office of Labor and Workforce Development announced Friday that Massachusetts’s total unemployment rate dropped by two-tenths of a percentage point in the month of May.
According to the Bureau of Labor Statistics, Massachusetts gained 5,500 jobs over the month, a spot of good news for the economy amidst greater national concerns regarding high inflation and an increase in interest rates.
Though the unemployment rate slightly fell from the previous month, job losses were noted in a few industries, such as construction, transportation, and professional services, decreasing by 0.1%, 0.5%, and 0.3%, respectively.
From May 2021 to May 2022, BLS estimates Massachusetts gained 176,600 jobs. The largest over the year gains occurred in Leisure and Hospitality, Professional, Scientific, and Business Services, and Education and Health Services. The only industry to show a decline was in financial services, with a decrease of 1.9% over the past year.
The May estimates show 3,629,500 Massachusetts residents were employed and 146,200 were unemployed, for a total labor force of 3,775,700, or about 3.9%.
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