Lynnfield Unemployment Rate Down To 4.5%

Lynnfield has seen its town unemployment rate noticeably in the past year, from 6.2 percent last November to 4.5 percent for that month this year.

Data from the state’s Office of Workforce Development shows that Lynnfield’s unemployment rate fell from 5.1 to 4.5 percent in just one month, between October and November 2011. The town’s workforce has remained at about 5,925 over the past year. For last month, 269 of these workers were unemployed.

This data is consistent with statewide figures showing that last month, the Massachusetts economy created 5,000 jobs and saw its unemployment rate fall to 7 percent – the lowest since December, 2008.

Other towns around Lynnfield have seen their own unemployment rates improve in recent months.

North Reading’s unemployment rate 6.9 percent a year ago and stood at 5.3 percent last month.  Wakefield saw a substantial improvement from 7 percent a year ago to 4.7 percent in November 2011.  Peabody’s unemployment rate has fallen by a comparable margin, from 7.5 to 5.7 percent.