Commonwealth of Massachusetts Executive Office of Labor and
|For Immediate Release:||March 19, 2015|
|Contact: Ann Dufresne - 617-626-7121|
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|February Unemployment Rate Drops to 4.9 Percent|
BOSTON, MA -March 19, 2015 --- Today the Executive Office of Labor and Workforce Development (EOLWD) released preliminary February 2015 estimates that show the Massachusetts total unemployment rate dropped to 4.9 percent from the January rate of 5.1 percent, a 0.2 of a percentage point decrease. Over the year, the unemployment rate fell by 1.1 percent from 6.0 percent in February 2014.
The share of working age residents employed or unemployed, also known as the labor participation rate, was 65.9, an increase of 0.3 of a percentage point since January. Compared with February 2014, the labor participation rate increased a full percentage point over the year.
February 2015 estimates show that 3,430,500 residents were employed and 177,300 were unemployed. Compared with February 2014, February 2015 has 34,400 fewer unemployed persons which is the largest annual decrease in the number of unemployed since October 2011.
Over the month, jobs were up 800 with a private sector loss of 800. Since February 2014, jobs grew by 58,100 with 46,300 private sector job gains. Education and Health Services and Professional, Scientific, and Business Services had the largest job gains over the year. All sector details are listed below.
BLS also revised its January job estimate to a 900 over the month job gain from the 2,600 gain previously reported for the month.
Education and Health Services gained 1,100 (+0.1%) jobs over the month. Over the year, Education and Health Services gained 16,300 (+2.2%) jobs.
Information added 200 (+0.2%) jobs over the month. Over the year, Information added 900 (+1.0%) jobs.
Financial Activities gained 200 (+0.1%) jobs over the month. Over the year, Financial Activities added 3,600 (+1.7%) jobs.
Manufacturing had no change (0.0%) in its jobs level over the month. Over the year, Manufacturing lost 1,500 (-0.6%) jobs.
Trade, Transportation and Utilities lost 3,200 (-0.6%) jobs over the month. Over the year, Trade, Transportation and Utilities gained 3,300 (+0.6%) jobs.
Construction lost 900 (-0.7%) jobs over the month. Over the year, Construction has added 3,700 (+2.9%) jobs.
Leisure and Hospitality lost 500 (-0.1%) jobs over the month. Over the year, Leisure and Hospitality added 2,200 (+0.6%) jobs.
Other Services lost 300 (-0.2%) jobs over the month. Over the year, Other Services jobs are up 2,900 (+2.2%) jobs.
Government added 1,600 (+0.3%) jobs over the month. Over the year, Government gained 11,800 (+2.6%) 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.
NOTES: The labor force is sum of number of employed residents and those unemployed, that is residents not working but actively seeking work in the last four weeks. Estimates may not add to the total labor force due to rounding.
Local area unemployment statistics for February 2015 will be released on Tuesday, March 24, 2015. The preliminary March 2015 and revised February 2015 unemployment rate, labor force data and jobs estimates for Massachusetts will be released on Thursday, April 16, 2015. See the 2015 Media Advisory annual schedule for a complete list of release dates. 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|
Report Unemployment Fraud by Calling the Department of Unemployment Assistance’s Fraud Hotline @ 1-800-354-9927
or visit: www.mass.gov/lwd/ui-fraud