Mass. unemployment rate in March remained below national rate
Photo | Flickr | Ajay Suresh
The Massachusetts State House
The Massachusetts unemployment rate in March was 2.9%, with an estimated 3,649,800 employed residents and 107,200 unemployed residents.
The March unemployment rate remained unchanged from February’s revised estimate of 2.9%, according to a Friday press release from he Massachusetts Executive Office of Labor and Workforce Development, which sited U.S. Bureau of Labor Statistics data.
The Massachusetts unemployment rate was 0.9 percentage points lower than the national rate of 3.8%, with the state’s seasonally adjusted unemployment rate down by 0 .6 percentage points over the year.
Down from February’s revised gain of 5,000 jobs, the BLS preliminary job estimate advised Massachusetts procured 2,900 jobs in March, with the month showing 11,300 residents more employed and 3,000 fewer residents unemployed.
Though the labor force participation rate was down 0.3 percentage points in March compared to March 2023, the state experienced a gain of 22,500 jobs in the past year. In fact, the Massachusetts labor force participation increased to 64.9% in March, reflecting a 0.1 percentage point rise from February
The individual industry job gains in March for the state were:
- Education and health services gained 2,400 jobs over the month and 21,700 over the year.
- Leisure and hospitality gained 1,600 jobs over the month and 8,200 over the year.
- Government gained 1,100 jobs over the month and 4,000 over the year.
- Construction gained 900 jobs over the month and 2,800 over the year.
- Financial activities lost 100 jobs over the month and added 900 over the year.
- Trade, transportation, and utilities lost 300 jobs over the month and 4,200 over the year.
- Information lost 500 jobs over the month and 4,700 over the year.
- Manufacturing lost 600 jobs over the month and 3,300 over the year.
- Professional, scientific, and business services lost 3,000 jobs over the month and 7,800 over the year.
Unemployment rates are based on a monthly sample of households while job estimates are acquired via an employer monthly sample survey.
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