Unemployment Rate Drops to 6.3 Percent
BOSTON– The Bureau of Labor Statistics’ (BLS) preliminary estimates show that Massachusetts added 8,100 jobs in March and that the total unemployment rate dropped another 0.2 of a percentage point to 6.3 percent from the February rate.
Over the month, jobs are up 8,100 with private sector jobs up 7,800. Since March 2013, Massachusetts added a net of 50,400 jobs: with 53,900 jobs added in the private sector and 3,500 lost in the public sector. The total unemployment rate was down 0.6 of a percentage point from the March 2013 rate of 6.9 percent rate.
BLS also revised its February estimates upward to 5,500 jobs, up from the 3,800 jobs previously reported for the month.
March 2014 Employment Overview
Education and Health Services gained 5,700 (+0.8%) jobs over the month. Over the year, Education and Health Services gained 14,800 (+2.0%) jobs.
Trade, Transportation and Utilities added 3,100 (+0.6%) jobs over the month. Over the year, Trade, Transportation, and Utilities added 9,900 (+1.8%) jobs.
Other Services gained 1,700 (+1.4%) jobs over the month. Over the year, Other Services jobs are up 4,300 (+3.5%) jobs.
Information added 600 (+0.7%) jobs over the month. Over the year, Information gained 5,000 (+5.8%) jobs.
Leisure and Hospitality gained 200 (+0.1%) jobs over the month. Over the year, Leisure and Hospitality added 4,500 jobs (+1.4%).
Professional, Scientific and Business Services lost 2,100 (-0.4%) jobs over the month. Over the year, Professional, Scientific and Business Services added 14,500 (+2.9%) jobs.
Construction lost 900 (-0.7%) jobs over the month. Over the year, Construction has added 2,300 (+1.9%) jobs.
Manufacturing lost 300 (-0.1%) jobs over the month. Over the year, Manufacturing lost 800 (-0.3%) jobs.
Financial Activities lost 200 (-0.1%) jobs over the month. Over the year, Financial Activities lost 600 (-0.3%) jobs.
Government added 300 (+0.1%) jobs over the month. Over the year, Government lost 3,500 jobs (-0.8%).
Labor Force Overview
The March 2014 estimates show 3,285,800 Massachusetts residents were employed and 220,900 were unemployed, for a total labor force of 3,506,800. The March labor force increased by 12,100 from 3,494,700 in February, as 19,200 more residents were employed and 7,200 fewer residents were unemployed over the month. The labor force was an estimated 24,500 above the 3,482,300 March 2013 estimate, with 44,300 more residents employed and 19,900 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.
Revised BLS CES jobs estimates now include jobs in Health Care that cover services to the elderly and disabled persons that were not previously in this series. The changes begin in January 1999.
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.
Local area unemployment statistics for March 2014 will be released on Tuesday, April 22, 2014. The preliminary April 2014 and revised March 2014 unemployment rate, labor force data and jobs estimates for Massachusetts will be released on Thursday, May 15, 2014. See the 2014 Media Advisory annual schedule for a complete list of release dates.
Detailed labor market information is available at www.mass.gov/lmi