Massachusetts Adds 10,800 Jobs in October

The Executive Office of Labor and Workforce Development reported that preliminary October estimates show an in Massachusetts, for a total of 3,239,300 jobs. The total unemployment rate remained at 7.3 percent, well below the national rate of 9.0 percent, and the state’s lowest monthly rate since January of 2009.

Eight of the ten private sectors added jobs in October with the largest gains in Education and Health Services; Financial Activities; Construction; and Professional, Scientific, and Business Services. The October job gain follows a revised 5,500 job loss in September.

Year-to-date (December 2010 to October 2011), 45,500 jobs have been added in the Bay State with 48,500 private sector jobs added. Over-the-year (October 2010 to October 2011), jobs are up 50,000, a growth rate of 1.6 percent, with private sector jobs up 52,900, for a growth rate of 1.9 percent.  Over-the-year, the national rate of job growth is 1.2 percent with private sector job growth up 1.7 percent.   

Labor Force Overview  The October estimates show 3,237,700 Massachusetts residents were employed and 253,500 were unemployed, for a total labor force of 3,491,200. The labor force increased by 12,400 from 3,478,800 in September, as 13,900 more residents were employed and 1,500 fewer residents were unemployed over-the-month. Since October 2009, there are 69,300 more residents employed and 50,900 fewer residents unemployed as the labor force increased by 18,400. Totals for October may not add exactly due to rounding.   The unemployment rate is based on a monthly sample of households, while the job estimates are derived from a monthly sample survey of employers.  As a result, the two statistics for October exhibit different trends.  

Detailed labor market information is available at www.mass.gov/lmi

-Press release contributed by the Executive Office of Labor and Workforce Development.