State’s Unemployment Rate Drops to 3.3% in October
BOSTON — The state’s total unemployment rate dropped to 3.3% in October, marking the fourth consecutive month the rate went down, the Executive Office of Labor and Workforce Development reported Thursday.
The last time the state’s unemployment rate hit 3.3% was in April 2001. The unemployment rate in September was 3.6%.
In October, preliminary estimates from the Bureau of Labor Statistics indicate Massachusetts lost 5,500 jobs over the month. However, the September job gains were higher than originally reported, with the state gaining 8,100 jobs compared to the previously published 5,100 job gain estimate. Year to date, December 2015 to October 2016, Massachusetts has added 61,300 jobs.
At 3.3%, the seasonally adjusted unemployment rate is down 1.5% over the year from 4.8% in October 2015. There are 55,400 fewer unemployed residents and 100,700 more employed residents over the year compared to October 2015.
“We are pleased to see the state’s unemployment rate continues to drop month after month,” Labor and Workforce Development Secretary Ronald Walker II said. “But we are mindful of the residents who have not been able to find a job in the past year. We are doing all we can to re-engage those individuals in this thriving job market.”
In October, over-the-month job gains occurred in the professional, scientific, and business services; manufacturing; and other services sectors. Over the year, the largest private-sector percentage job gains were in construction; professional, scientific, and business services; education and health services; and leisure and hospitality.