MASSACHUSETTS ADDS 10,800 JOBS IN OCTOBER MASSACHUSETTS UNEMPLOYMENT RATE HOLDS AT 7.3%
BOSTON - Thursday November 17, 2011 --- The Executive Office of Labor and Workforce Development reported today that preliminary October estimates show an increase of 10,800 jobs in Massachusetts, for a total of 3,239,300 jobs. The total unemployment rate remained at 7.3 percent, well below the national rate of 9.0 percent, and the state's lowest monthly rate since January of 2009.
Eight of the ten private sectors added jobs in October with the largest gains in Education and Health Services; Financial Activities; Construction; and Professional, Scientific, and Business Services. The October job gain follows a revised 5,500 job loss in September.
Year-to-date (December 2010 to October 2011), 45,500 jobs have been added in the Bay State with 48,500 private sector jobs added. Over-the-year (October 2010 to October 2011), jobs are up 50,000, a growth rate of 1.6 percent, with private sector jobs up 52,900, for a growth rate of 1.9 percent. Over-the-year, the national rate of job growth is 1.2 percent with private sector job growth up 1.7 percent.
Financial Activities jobs were up 1,900 (+0.9%) over-the-month with gains in Finance and Insurance and Real Estate, Rental and Leasing. Over-the-year, jobs are up 3,500 (+1.7%) with a 1,900 (+1.1%) job gain in Finance and Insurance and a 1,600 (+4.1%) job gain in Real Estate, Rental and Leasing.
Construction added 1,700 (+1.6%) jobs following September's revised loss of 2,000 jobs. Over-the-year, this sector has added 2,900 (+2.8%) jobs with gains in Construction of Buildings, Heavy and Civic Engineering Construction and Specialty Construction.
Professional, Scientific and Business Services gained 1,700 (+0.4%) jobs over-the-month, the sector's eleventh consecutive monthly gain. Within the sector, Professional, Scientific and Technical Services gained 1,100 (+0.4%) jobs, Administrative and Waste Services added 400 (+0.3%) and Management of Companies and Enterprises gained 200 (+0.3%) jobs. Over-the-year, the sector has added 21,000 (+4.6%) jobs.
Trade, Transportation, and Utilities added 1,400 (+0.3%) jobs over-the-month with gains in Retail Trade and Wholesale Trade. Over-the-year, jobs in Trade, Transportation and Utilities are up 7,400 (+1.4%) with Retail Trade adding 4,200 (+1.2%) jobs, Wholesale Trade gaining 2,200 (+1.8%) jobs and Transportation, Warehousing and Utilities adding 1,000 jobs (+1.2%).
Manufacturing gained 400 (+0.2%) jobs due to gains in Non-Durable Goods offsetting the loss in Durable Goods. From October 2010 to October 2011, Manufacturing jobs are up 4,300 (+1.7%) with most of the gains in Durable Goods.
Other Services added 300 (+0.2%) jobs. Over-the-year, jobs are up 2,600 (+2.2%).
Mining and Logging gained 100 (+10.0%) jobs over-the-month while losing 100 (-8.3%) jobs over-the-year.
Leisure and Hospitality lost 2,700 (-0.9%) jobs over-the-month with losses in Accommodation and Food Services and Arts, Entertainment and Recreation. Over-the-year, the sector has added 2,500 (+0.8%) jobs as the Accommodation and Food Services component added 5,400 (+2.1%) jobs.
Information jobs were down 1,300 (-1.5%), but over-the-year, the sector has added 2,400 (+2.8%) jobs.
Government added 2,600 (+0.6%) jobs. State Government gained 2,300 jobs (+1.9%). Federal Government added 200 (+0.4%) jobs while Local Government gained 100 (0.0%) jobs. Over-the-year, Government jobs were down 2,900 (-0.7%) with job with losses in two of the three components.
Labor Force Overview
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 October exhibit different trends.
NOTES: Beginning with the March 2011 estimates, the Bureau of Labor Statistics (BLS) has assumed responsibility for the production of the CES State and sub-state jobs estimates. BLS has also implemented methodological changes which may increase the month to month variability of the estimates. (See (Procedures Changes for producing (CES) estimates.)
|Statewide Seasonally Adjusted Unemployment||Statewide Seasonally Adjusted Employment|
|Statewide Not Seasonally Adjusted Unemployment||Statewide Not Seasonally Adjusted Employment|
|Labor Force and Unemployment Data||Current Employment Statistics Data|