Unemployment Rate Drops to 5.1% in January
BOSTON — The Executive Office of Labor and Workforce Development (EOLWD) released preliminary January 2015 estimates Tuesday showing the Massachusetts total unemployment rate dropped to 5.1% from the revised December 2014 rate of 5.3%, a 0.2% decrease. This is the lowest unemployment rate since May 2008.
Over the year, the unemployment rate fell a full 1.0% from 6.1% last January. Over the month, jobs were up 2,600, with private-sector gains of 800 in six of the nine sectors. Over the year, the number of jobs grew by 68,000, with 56,600 private-sector job gains.
Annual year-end revisions released Tuesday also indicate unemployment rates were lower in all but three months from April 2012 through December 2014 than previously published. These revisions show that Massachusetts added 60,700 jobs in 2014 with private-sector job gains of 50,800. Education and health services; and professional, scientific, and business services sectors added the most jobs in 2014.