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Massachusetts Surpasses Pre-Recession Job Levels
The Executive Office of Labor and Workforce Development today announced that Massachusetts has surpassed pre-recession job levels. With revised numbers from the Bureau of Labor Statistics showing more jobs were created in January than initially estimated, there are now 3,318,500 jobs in Massachusetts, compared to 3,304,300 in April 2008.
Revised jobs estimates show 18,900 jobs were created in January, an increase over the 16,100 jobs initially estimated. Initial estimates show 500 jobs were created in February and the statewide unemployment rate ticked down to 6.5% from 6.7% in January. Five of the ten sectors added jobs in February with the largest gain in Professional, Scientific, and Business Services. Over the year, Massachusetts added 57,600 jobs, 52,500 of which were in the private sector.
February 2013 Employment Overview
- Professional, Scientific, and Business Services added 3,200 (+0.6%) jobs over the month. Over the year, Professional, Scientific, and Business Services added 18,200 (+3.8%) jobs with gains across all components.
- Construction added 1,400 (+1.2%) jobs over the month. Over the year, Construction added 4,500 (+3.9%) jobs.
- Other Services added 900 (+0.7%) jobs over the month. Over the year, Other Services added 3,500 (+2.9%) jobs.
- Financial Activities added 700 (+0.3%) jobs over the month. Over the year, Financial Activities gained 700 (+0.3%) jobs; Finance and Insurance lost 400 (-0.2%) jobs; Real Estate, Rental and Leasing added 1,100 (+2.7%) jobs.
- Education and Health Services lost 3,600 (-0.5%) jobs over the month. Over the year, Education and Health Services gained 11,400 (+1.7%) jobs.
- Leisure and Hospitality lost 2,400 (-0.7%) jobs over the month due to the loss in Arts, Entertainment, and Recreation. Over the year, Leisure and Hospitality added 9,000 (+2.8%) jobs.
- Manufacturing lost 1,700 jobs (-0.7%) over the month. Over the year, Manufacturing lost 2,900 (1.1%) jobs.
- Trade, Transportation, and Utilities lost 500 (-0.1%) jobs over the month. Over the year, Trade, Transportation, and Utilities added 5,900 (+1.1%) jobs.
- nformation lost 400 (-0.5%) jobs over the month. Over the year, Information gained 2,300 (+2.7%) jobs.
- Government gained 2,800 (+0.6%) jobs over the month, with the largest gain coming from Local Government, which added 2,000 (+0.8%) jobs. State Government added 800 jobs (+0.6%) and Federal Government jobs remained unchanged. Over the year, Government gained 5,100 (+1.2%) jobs.
Labor Force Overview
The February 2013 estimates show 3,250,300 Massachusetts residents were employed and 226,700 were unemployed, for a total labor force of 3,477,000. The February labor force decreased by 6,900 from 3,483,900 in January 2013, as 900 fewer residents were employed and 6,000 fewer residents were unemployed over the month. The labor force was an estimated 200 below the 3,477,200 February 2012 estimate, with 5,200 more residents employed and 5,400 fewer residents unemployed.
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.