State Jobless Holds Steady at 7.6%
BOSTON — The state's unemployment remains well below the national average at 7.6 percent, according to the latest statistics from the Executive Office of Labor and Workforce Development.
Preliminary June job estimates show 3,235,100 jobs in the state, an increase of 10,400 jobs, with 10,300 jobs added in the private sector. The state's jobless rate has remained steady at 7.6 percent for two consecutive months; the national rate is 9.2 percent. Both the unemployment rate and the number of unemployed residents are the lowest since February 2009.
Six of the 10 private sectors added jobs in June with the largest over-the-month gains in Manufacturing followed by: Construction; Professional, Scientific and Business Services; Leisure and Hospitality; Financial Activities; and Educational and Health Services. June's monthly gain follows a revised May monthly loss of 4,100 jobs statewide and a 1,300 job loss in the private sector.
Since March, the state has added 26,600 jobs (up 0.8 percent) with a gain of 30,300 jobs ( up 1.1 percent) in the private sector. Also in this timeframe, Construction; Manufacturing; Information; Professional, Scientific and Technical Services and Accommodation and Food Services have all posted solid job gains.
Over-the-year (June 2010 to June 2011), jobs are up 50,000, for a growth rate of 1.6 percent. Private-sector jobs are up 60,300, for a growth rate of 2.2 percent, with gains in eight of the ten sectors. Over-the-year, the national rate of job growth is 0.8 percent with private-sector job growth up 1.6 percent.
The June estimates show 3,224,100 Massachusetts residents were employed and 263,800 were unemployed, for a total labor force of 3,487,900. The labor force decreased by 9,400 from 3,497,300 in May, as 7,700 fewer residents were employed and 1,700 fewer residents were unemployed over-the-month. Since October 2009, there are 55,700 more residents employed and 40,600 fewer residents unemployed as the labor force expanded by 15,100. Totals for June may not add exactly because of 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 June exhibit different trends.
Jobless rates for local areas will be released on July 26. Read the full press release here.