NEW: Massachusetts Added 3,800 Jobs in February

Thursday, March 20, 2014

GoLocalProv Business Team

Massachusetts added 3,800 jobs in February according to preliminary estimates by the Bureau of Labor Statistics’ (BLS). The total unemployment rate dropped 0.3 percent from January to 6.5 percent.

The Executive Office of Labor and Workforce Development (EOLWD) reported that over the month, jobs are up 3,800 with private sector jobs up 3,000. Since February 2013, Massachusetts added 47,600 jobs; the private sector added 50,500 jobs. The total unemployment rate was down 0.4 of a percentage point from the February 2013 6.9 percent rate.

BLS also revised downward the number of jobs lost in January from 4,500 to 3,900.

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February 2014 Employment Overview

Professional, Scientific and Business Services added 6,200 (+1.2%) jobs over the month. Over the year, Professional, Scientific and Business Services added 18,000 (+3.6%) jobs.

Trade, Transportation and Utilities gained 3,200 (+0.6%) jobs over the month. Over the year, Trade, Transportation, and Utilities added 6,100 (+1.1%) jobs.

Manufacturing added 400 (+0.2%) jobs over the month. Over the year, Manufacturing lost 600 (-0.2%) jobs.

Information gained 400 (+0.4%) jobs over the month. Over the year, Information gained 4,000 (+4.7%) jobs.

Leisure and Hospitality lost 3,600 (-1.1%) jobs over the month. Over the year, Leisure and Hospitality added 5,300 jobs (+1.6%).

Financial Activities lost 1,600 (-0.8%) jobs over the month. Over the year, Financial Activities lost 100 (0.0%) jobs.

Education and Health Services lost 900 (-0.1%) jobs over the month. Over the year, Education and Health Services gained 12,600 (+1.7%) jobs.

Construction lost 700 (-0.6%) jobs over the month. Over the year, Construction has added 2,800 (+2.3%) jobs.

Other Services lost 300 (-0.2%) jobs over the month. Over the year, Other Services jobs are up 2,400 (+2.0%) jobs.

Government added 800 (+0.2%) jobs over the month. Over the year, Government lost 2,900 jobs (-0.7%).

Labor Force Overview

The February 2014 estimates show 3,266,500 Massachusetts residents were employed and 227,900 were unemployed, for a total labor force of 3,494,400. The February labor force increased by 8,900 from 3,485,500 in January, as 18,200 more residents were employed and 9,300 fewer residents were unemployed over the month. The labor force was an estimated 14,100 above the 3,480,300 February 2013 estimate, with 25,700 more residents employed and 11,700 fewer residents unemployed.

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.

Related Slideshow: 8 Discouraging Facts About Unemployment in RI

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Worst in the Country

9.2% unemployment rate for Jan. 2014.

Although the national unemployment rate for January was 6.6%, Rhode Island's jobless rate was 9.2% – making it the highest in the nation. The 9.2% figure is one-tenth of a percentage point lower than it was in December 2013.

Source of data: RI DLT

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Number of Unemployed

64 consecutive months with 50,000 or more unemployed.

The number of unemployed Rhode Islanders decreased from 51,055 in Dec. 2013 to 50,600 in Jan. 2014. That said, the number of unemployed Rhode Islanders has not been below 50,000 since September 2008, which is 64 months.

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North of Nine

Above 9% unemployment for 63 straight months.

So just how long has Rhode Island's unemployment rate been above 9 percent? According to RI Department of Labor and Training statistics, the state's jobless rate has been over 9% since November 2008. That's a staggering 63 consecutive months.

Source of data: RI DLT

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Months at the Bottom

Seven consecutive months with the worst unemployment rate.

Rhode Island's unemployment rate has been worst in country each month since July 2013. Prior to that, the state was tied for worst in the nation with Nevada May 2013 when both states reported a jobless rate of 9.5%. As of Dec. 2013, Nevada's unemployment rate has dipped to 8.8%.

Sources of data: RI DLT; Bureau of Labor Statistics

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Worst in New England

Lagging behind the rest of New England in job recovery.

The rest of New England's states have not reported their unemployment rates for Jan. 2014, but the most recent Bureau of Labor Statistics data shows that their respective jobless rates pale in comparison to Rhode Island. In fact the average New England unemployment rate for Dec. 2013 was 6.9%.

Here's the complete list:

Vermont 4.2%
New Hampshire 5.2%
Massachusetts 6.4%
Connecticut 6.9%
Maine 7.4%

Source of data: Bureau of Labor Statistics

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Number of Employed Residents

Nearly 6,500 less employed residents than a year ago.

Rhode Island's unemployment rate may be lower than it was in January 2013, but this isn't reflected in the number of employed Rhode Islanders. In fact, there are 6,498 less people employed now than in Jan. 2013.

Source of data: RI DLT