Thursday, November 18, 2010

Massachusetts Unemployment Rate Drops to 8.1% in October

BOSTON - Thursday November 18, 2010 --- The Executive Office of Labor and Workforce Development reported today that the total unemployment rate dropped from 8.4 percent in September to 8.1 percent in October, the lowest unemployment rate since April 2009 and the steepest two-month consecutive drop since 1976. Since August the rate has dropped seven tenths of a percentage point and remains below the 9.6 percent national rate.

The preliminary October job estimates show 3,185,500 jobs in Massachusetts, an increase of 10,000 jobs, with most of the gains in Education and Health Services and Leisure and Hospitality. Professional, Scientific and Business Services, Construction and Trade, Transportation, and Utilities lost jobs. Over-the-year, jobs are up 37,300 with private sector jobs up 35,100. The October job gain follows a revised 21,300 jobs loss in September, previously reported as a 20,900 job loss. Year-to-date (December 2009 - October 2010) 47,900 total jobs have been added. Private sector job growth for the same time period is 48,300.

Trends for the labor force, unemployed residents, employed residents, the unemployment rate and jobs continue to indicate improvement for Massachusetts' economy.

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