Massachusetts Adds 1,200 Jobs in October
BOSTON — The Executive Office of Labor and Workforce Development (EOLWD) reported this week that preliminary estimates from the Bureau of Labor Statistics (BLS) show Massachusetts added 1,200 jobs in October for a total preliminary estimate of 3,424,600. The October total unemployment rate remained unchanged at 6.0%. Since October 2013, Massachusetts has added a net of 52,600 jobs, with 50,400 jobs added in the private sector. The total unemployment rate for the year is down 1.2% from the October 2013 rate of 7.2%. BLS also revised its September job estimates to a 7,800-job gain from the 9,400-gain previously reported for the month. Here’s an October 2014 employment overview:
• Information added 1,900 jobs (+2.0%) over the month. Over the year, the sector added 7,900 jobs (+9.1%);
• Construction gained 1,300 jobs (+1.1%) over the month. Over the year, the sector has added 2,400 jobs (+2.0%);
• Education and Health Services added 800 jobs (+0.1%) over the month. Over the year, the sector Education gained 16,000 jobs (+2.2%);
• Professional, Scientific and Business Services gained 200 jobs (0.0%) over the month. Over the year, the sector added 14,500 jobs (+2.9%);
• Other Services had no change in its jobs level over the month. Over the year, Other Services jobs are up 1,100 jobs (+0.9%);
• Trade, Transportation and Utilities lost 1,800 jobs (-0.3%) over the month. Over the year, the sector gained 7,200 (+1.3%) jobs;
• Leisure and Hospitality lost 1,500 jobs (-0.4%) jobs over the month. Over the year, the sector added 100 (0.0%) jobs;
• Financial Activities lost 500 jobs (-0.2%) over the month. Over the year, the sector added 1,900 jobs (+0.9%);
• Manufacturing lost 400 jobs (-0.2%) jobs over the month. Over the year, Manufacturing lost 700 jobs (-0.3%); and
• Government added 1,200 jobs (+0.3%) over the month. Over the year, the sector gained 2,200 jobs (+0.5%).
The October 2014 estimates show 3,334,800 Massachusetts residents were employed and 211,000 were unemployed, for a total labor force of 3,545,800. The October labor force increased by 14,100 from 3,531,700 in September, as 16,400 more residents were employed and 2,300 fewer residents were unemployed over the month. The labor force was an estimated 61,800 above the 3,484,000 October 2013 estimate, with 100,600 more residents employed and 38,800 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.