Unemployment Rate in Massachusetts Drops to 4.6% in May
BOSTON — The state’s total unemployment rate dropped to 4.6% in May, a 0.1% decrease from the previous month, the Executive Office of Labor and Workforce Development announced Thursday. The unemployment rate is the lowest it has been in the state since December 2007.
The new preliminary job estimates from the Bureau of Labor Statistics indicate Massachusetts gained 7,400 jobs in May, marking the ninth consecutive month of jobs gains.
Over the year, the state’s seasonally adjusted unemployment rate fell 1.2% from 5.8% in May 2014. The unemployment rate in Massachusetts peaked in September 2009 at 8.8%. The May state unemployment rate is 0.9% lower than the national rate of 5.5% reported by the Bureau of Labor Statistics.
The Bureau of Labor Statistics also revised upward its April job figure, reporting the state gained 11,200 jobs, instead of 10,100, which the agency reported last month.
“We have had solid job growth in the last three months, with approximately 30,000 jobs added in the state,” Labor and Workforce Development Secretary Ronald Walker II said. “As more jobs are created, more people are coming back into the labor market.”
Over the month, jobs were up 7,400, with a private-sector gain of 7,100. Since May 2014, jobs grew by 70,600, with 59,300 private-sector job gains. Sectors that gained jobs over the month include construction, which added 3,500 jobs; retail trade, 1,500 jobs; and wholesale trade, 1,500 jobs. Transportation and warehousing lost 500 jobs. Manufacturing gained 600 jobs, and financial activities gained 700 jobs.
Education and health services and professional, scientific, and business services had the largest job gains over the year.