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Massachusetts Unemployment at 6.7%
The Executive Office of Labor and Workforce Development today reported that the Bureau of Labor Statistics’ preliminary December 2012 estimates show a gain of 7,500 jobs over the month, for a total of 3,263,400 jobs. The December job gain follows a revised loss of 3,200 jobs in November.
The total unemployment rate for December was 6.7 percent, up 0.1 of a percentage point. Over the year, the unemployment rate was down 0.2 of a percentage point from the December 2011 rate of 6.9 percent. The three-month average seasonally adjusted total unemployment rate was 6.7 percent and the six-month average was 6.5 percent.
Over the year, December 2011 to December 2012, jobs are up 51,600. Private sector jobs are up 50,700 with gains in eight of the ten sectors. Professional, Scientific, and Business Services and Trade, Transportation and Utilities had the largest gains.
Education and Health Services gained 3,800 (+0.6%) jobs in December. Educational Services added 1,900 (+1.2%) jobs and Health Care and Social Assistance also added 1,900 (+0.4%) jobs. Over the year, Education and Health Services gained 7,300 (+1.1%) jobs.
Leisure and Hospitality gained 3,200 (+1.0%) jobs over the month with gains in Accommodation and Food Services and Arts, Entertainment and Recreation. Over the year, Leisure and Hospitality has gained 6,300 (+2.0%) jobs due to gains in Accommodation and Food Services.
Construction added 1,400 (+1.3%) jobs over the month. Over the year, jobs are up 300 (+0.3%).
Manufacturing gained 800 (+0.3%) jobs over the month with gains in both components. Over the year Manufacturing has shed 1,100 (-0.4%) jobs.
Other Services added 600 (+0.5%) jobs. Over the year, the sector gained 1,000 (+0.8%) jobs.
Financial Activities added 100 (0.0%) jobs. Over the year, the sector has gained 1,900 (+0.9%) jobs.
Trade, Transportation, and Utilities lost 1,100 (-0.2%) jobs. Over the year, 8,100 (+1.5%) jobs were added with most of the growth in Retail Trade which gained 4,200 (+1.2%) jobs.
Professional, Scientific, and Business Services lost 1,000 (-0.2%) jobs over the month. Over the year, the sector has added 22,800 (+4.8%) jobs with Professional, Scientific and Technical Services component generating 17,400 (+6.7%) jobs.
Information lost 200 (-0.2%) jobs over the month. Over the year, the sector added 4,200 (+5.1%) jobs.
Mining and Logging lost 100 (-9.1%) jobs both over the month and over the year.
Government jobs remained unchanged over the month. Over the year, Government added 900 (+0.2%) jobs.
Labor Force Overview
The December 2012 estimates show 3,240,000 Massachusetts residents were employed and 234,300 were unemployed, for a total labor force of 3,474,300. The December labor force increased by 900 from 3,473,400 in November, as 3,300 fewer residents were employed and 4,200 more residents were unemployed over the month. The labor force was 17,100 above last year’s level, with 20,500 more residents employed and 3,400 fewer residents unemployed. Since the unemployment rate peaked at 8.7 percent in October 2009, there are 79,500 more residents employed and 66,700 fewer residents unemployed. Totals may not sum exactly due to rounding.
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.
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 Changes to procedures for producing Current Employment Statistics (CES) State estimates.