Massachusetts Loses 500 Jobs in December
Friday, January 19, 2018
GoLocalWorcester Business Team
Massachusetts lost 500 jobs in the month of December, according to the Executive Office of Labor and Workforce Development.
The labor force decreased by 500 from 3,647,500 in November, as 1,900 more residents were employed and 2,500 fewer residents were unemployed over the month.
However, from December of 2016 to December of 2017, the Bureau of Labor Statistics’ estimates Massachusetts has added 63,000 jobs.
Unemployment Rate Drops
Massachusetts unemployment rate dropped to 3.5 percent in December.
The December unemployment rate was six-tenths of a percentage point lower than the national rate of 4.1 percent reported by the Bureau of Labor Statistics.
"Throughout 2017, the Commonwealth continued to experience steady economic growth, adding 63,000 jobs, over 64,000 additional residents participating in the labor force, and closing out the year with a low unemployment rate of 3.5 percent. While much of these job gains continue to be in sectors like Professional, Business, and Scientific Services, Manufacturing also posted a preliminary 2,800 over the year job gain, the first over the year over job gain in that sector in 18 years," said Labor and Workforce Development Secretary Rosalin Acosta.
Over the year, the state's seasonally adjusted unemployment rate increased four-tenths of a percentage point from 3.1 percent in December 2016. There were 17,900 more unemployed residents over the year compared to December 2016.
The state's labor force participation rate decreased one-tenth of a percentage point to 65.3 percent over the month. The labor force participation rate over the year has increased by 0.7 percentage point compared to December 2016.