For Immediate Release:
|June 18, 2015|
|Contact: Colleen Quinn - 617-626-7121|
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Unemployment Rate Drops to 4.6 Percent in May
Massachusetts Adds 7,400 Jobs
BOSTON, MA -JUNE 18, 2015 --- The state's total unemployment rate dropped to 4.6 percent in May, a 0.1 percentage point decrease from the previous month, the Executive Office of Labor and Workforce Development announced Thursday.
Over the year, the state's seasonally adjusted unemployment rate fell 1.2 percent from 5.8 percent in May 2014. The unemployment rate in Massachusetts peaked in September 2009 at 8.8 percent.
The May state unemployment rate is 0.9 of a percentage point lower than the national rate of 5.5 percent 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 added 1,500 jobs and Wholesale Trade added 1,500 jobs over the month, while Transportation and Warehousing lost 500 jobs. Manufacturing gained 600 jobs and Financial Activities gained 700 jobs.
The state's labor participation rate - the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks - increased 0.1 percentage point to 66.4.
The May labor participation rate is the highest since April 2010, and this is the fourth consecutive month there was an increase in the participation rate. Compared to May 2014, the labor participation rate increased 1.1 percent over the year.
May 2015 estimates show that 3,471,500 residents were employed and 168,700 were unemployed. There were 36,800 fewer unemployed persons over the year compared to May 2014.
Education and Health Services and Professional, Scientific, and Business Services had the largest job gains over the year. All sector details are listed below.
Trade, Transportation and Utilities gained 2,500 (+0.4%) jobs over the month. Over the year, Trade, Transportation and Utilities gained 3,100 (+0.6%) jobs.
Financial Activities added 700 (+0.3%) jobs over the month. Over the year, Financial Activities added 2,900 (+1.4%) jobs.
Manufacturing gained 600 (+0.2%) jobs over the month. Over the year, Manufacturing jobs are down 200 (-0.1%) jobs.
Education and Health Services added 500 (+0.1%) jobs over the month. Over the year, Education and Health Services gained 19,800 (+2.7%) jobs.
Other Services gained 300 (+0.2%) jobs over the month. Over the year, Other Services jobs are up 3,000 (+2.3%) jobs.
Information lost 200 (-0.2%) jobs over the month. Over the year, Information added 1,000 (+1.2%) jobs.
Leisure and Hospitality lost 300 (-0.1%) jobs over the month. Over the year, Leisure and Hospitality added 7,000 (+2.1%) jobs.
Professional, Scientific and Business Services lost 400 (-0.1%) jobs over the month. Over the year, Professional, Scientific and Business Services added 18,200 (+3.5%) jobs.
Government added 300 (+0.1%) jobs over the month. Over the year, Government gained 11,300 (+2.5%) jobs.
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.
Local area unemployment statistics for May 2015 will be released on Tuesday, June 23, 2015. The preliminary June 2015 and revised May 2015 unemployment rate, labor force data and jobs estimates for Massachusetts will be released on Thursday, July 16, 2015. See the 2015 Media Advisory annual schedule for complete list of release dates.
|Statewide Seasonally Adjusted Unemployment||Statewide Seasonally Adjusted Employment|
|Statewide Not Seasonally Adjusted Unemployment||Statewide Not Seasonally Adjusted Employment|
|Labor Force and Unemployment Data||Current Employment Statistics Data|
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