NEW: Massachusetts Added 3,800 Jobs in February
Thursday, March 20, 2014
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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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.
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