Press Release  Massachusetts Unemployment & Job Estimates for March 2023

Boston, MA — April 21, 2023 – The state’s March total unemployment rate was 3.5 percent, down 0.2 percentage points  from the revised February estimate of 3.7 percent, the Executive Office of Labor and Workforce Development announced Friday.

The Bureau of Labor Statistics (BLS) preliminary job estimates indicate Massachusetts gained 16,300 jobs in March. This follows February’s revised gain of 9,200 jobs. The largest over-the-month private sector job gains were in Leisure and Hospitality, Education and Health Services, and Construction. Employment now stands at 3,758,300. Massachusetts gained 696,700 jobs since the employment low in April 2020.

From March 2022 to March 2023, BLS estimates Massachusetts gained 104,000 jobs. The largest over-the-year gains occurred in Education and Health Services, Professional, Scientific, and Business Services, and Leisure and Hospitality.

The state’s March unemployment rate of 3.5 percent was the same as the national rate reported by BLS.

The labor force increased by an estimated 300 from 3,741,500 in February, as 4,700 more residents were employed, and 4,400 fewer residents were unemployed over-the-month.

Over-the-year, the state’s seasonally adjusted unemployment rate was down by 0.2 percentage points.

The state’s labor force participation rate – the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks – remained unchanged at 65.0 percent over-the-month. Compared to March 2022, the labor force participation rate was down 0.3 percentage points.

March 2023 Employment Overview

Leisure and Hospitality gained 5,900 jobs over-the-month. Over-the-year, 16,700 were added.

Education and Health Services gained 5,300 jobs over-the-month. Over-the-year, 26,200 were added.

Construction gained 1,900 jobs over-the-month. Over-the-year, 5,500 were added.

Professional, Scientific, and Business Services gained 1,200 jobs over-the-month. Over-the-year, 23,200 were added.

Manufacturing gained 600 jobs over-the-month. Over-the-year, 700 were added.

Government gained 600 jobs over-the-month. Over-the-year, 11,200 were added.

Other Services gained 500 jobs over-the-month. Over-the-year, 5,400 were added.

Financial Activities gained 200 jobs over-the-month. Over-the-year, 7,200 were added.

Information gained 100 jobs over-the-month. Over-the-year, 1,600 were added.

Trade, Transportation, and Utilities lost had no job changes over-the-month. Over-the-year, 6,300 were added.

Labor Force Overview

The March estimates show 3,609,000 Massachusetts residents were employed and 132,800 were unemployed, for a total labor force of 3,741,700. The unemployment rate at 3.5 percent was down 0.2 percentage points from the revised February rate of 3.7 percent. Over-the-month, the March labor force grew by 300 from 3,741,500 in February, with 4,700 more residents employed and 4,400 fewer residents unemployed. The labor force participation rate, the share of working age population employed and unemployed, remained unchanged at 65.0 percent over-the-month. The labor force was down 13,400 from the March 2022 estimate of 3,755,200, with 7,900 fewer employed residents, and 5,500 fewer unemployed residents.

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

NOTES:

The labor force is the sum of the numbers of employed residents and those unemployed, that is residents not working but actively seeking work in the last four weeks. Estimates may not add up to the total labor force due to rounding.

For further information on seasonal adjustment methodology, please refer to the Bureau of Labor Statistics website https://www.bls.gov.

The preliminary April 2023 and revised March 2023 unemployment rate, labor force and job estimates for Massachusetts will be released on Friday, May 19, 2023. See the 2023 Media Advisory annual schedule for a complete list of release dates.

Detailed labor market information is available at www.mass.gov/economicresearch.

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