Press Release  Latest Seasonally Unadjusted Unemployment and Job Estimates for Local Labor Markets in Massachusetts for October 2023

BOSTON — November 21, 2023 - Local unemployment rates decreased in two labor market areas, increased in nineteen areas and remained unchanged in three labor market areas in the state during the month of October 2023 compared to September 2023, the Executive Office of Labor and Workforce Development reported.

Compared to October 2022, the rates were down in twenty-four labor market areas.

Of the fifteen areas for which employment estimates are published, thirteen NECTA areas gained jobs compared to the previous month. The largest percentage increases occurred in the Haverhill-Newburyport-Amesbury Town MA-NH (+1.6%), Lawrence-Methuen Town-Salem MA-NH (+1.1%), and Peabody-Salem-Beverly (+1%) areas.

From October 2022 to October 2023, fourteen areas gained jobs with the largest percentage increases seen in the Taunton-Middleborough-Norton (+3.1%), Barnstable Town (+3.1%), and Boston-Cambridge-Newton (+3%) areas.

The statewide seasonally adjusted preliminary jobs estimate showed a decrease of 800 jobs in October, and an over-the-year gain of 77,100 jobs.

In order to compare the statewide rate to local unemployment rates, the U.S. Department of Labor’s Bureau of Labor Statistics estimates the statewide unadjusted unemployment rate for October 2023 was 2.6%, up 0.1 percentage point from the revised September 2023 estimate and 1.0 percentage point below the nation’s unadjusted unemployment rate of 3.6%.

Last week, the Executive Office of Labor and Workforce Development reported the statewide seasonally adjusted unemployment rate in the month of October 2023 was 2.8%, up 0.2 percentage point compared to the revised September 2023 estimate. The Bureau of Labor Statistics reported the nation’s seasonally adjusted unemployment rate for October 2023 was 3.9%.

The unadjusted unemployment rates and job estimates for the labor market areas reflect seasonal fluctuations and therefore may show different levels and trends than the statewide seasonally adjusted estimates.

The estimates for labor force, unemployment rates, and jobs for Massachusetts are based on different statistical methodology specified by the Bureau of Labor Statistics.

NOTES: The preliminary November 2023 and the revised October 2023 unemployment rates, labor force data and jobs estimates for Massachusetts will be released on Friday, December 22, 2023; local unemployment statistics for November 2023 will be released on Tuesday, December 26, 2023. Detailed labor market information is available at http://www.mass.gov/EconomicResearch. See the 2023 Media Advisory for complete list of release dates.

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