State Unemployment and Job Estimates for November 2023| 08:06AM / Monday, December 25, 2023 | |
BOSTON — The state's November total unemployment rate was 2.9 percent, up 0.1 percentage point from the revised October estimate of 2.8 percent, the Executive Office of Labor and Workforce Development announced Friday.
The Bureau of Labor Statistics (BLS) preliminary job estimates indicate Massachusetts gained 3,200 jobs in November. This follows October's revised loss of 500 jobs. The largest over-the-month private sector job gains were in Leisure and Hospitality, Financial Activities, and Government. Employment now stands at 3,786,200. Massachusetts gained 724,600 jobs since the employment low in April 2020.
From November 2022 to November 2023, BLS estimates Massachusetts gained 66,100 jobs. The largest over-the-year gains occurred in Education and Health Services, Construction, and Leisure and Hospitality.
The state's November unemployment rate of 2.9 percent was 0.8 percentage points lower than the national rate of 3.7 percent reported by BLS.
The labor force grew by an estimated 7,700 from the revised estimate of 3,721,400 in October, as 2,400 more residents were employed, and 5,300 more residents were unemployed over-the-month.
Over-the-year, the state's seasonally adjusted unemployment rate was down by 0.8 percentage point.
The state's labor force participation rate – the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks – increased by 0.1 percentage point at 64.6 percent over-the-month. Compared to November 2022, the labor force participation rate was down 0.2 percentage points.
November 2023 Employment Overview
Leisure and Hospitality gained 2,800 jobs over-the-month. Over-the-year, 8,200 were added.
Financial Activities gained 1,500 jobs over-the-month. Over-the-year, 3,800 were added.
Government gained 900 jobs over-the-month. Over-the-year, 2,200 were added.
Manufacturing gained 500 jobs over-the-month. Over-the-year, 300 were lost.
Other Services gained 300 jobs over-the-month. Over-the-year, 4,600 were added.
Information had no change in 0 jobs over-the-month. Over-the-year, 2,200 were lost.
Construction lost 100 jobs over-the-month. Over-the-year, 9,000 were added.
Education and Health Services lost 200 jobs over-the-month. Over-the-year, 28,300 were added.
Trade, Transportation, and Utilities lost 1,000 jobs over-the-month. Over-the-year, 6,300 were added.
Professional, Scientific, and Business Services lost 1,400 jobs over-the-month. Over-the-year, 6,200 were added.
The November estimates show 3,621,200 Massachusetts residents were employed and 107,800 were unemployed, for a total labor force of 3,729,000. The unemployment rate at 2.9 percent was up 0.1 percentage point from the revised October rate of 2.8 percent. Over-the-month, the November labor force increased by 7,700 from 3,721,400 in October, with 2,400 more residents employed and 5,300 more residents unemployed. The labor force participation rate, the share of the working age population employed and unemployed, increased by 0.1 percentage point over-the-month at 64.6 percent. The labor force was up 1,200 from the November 2022 estimate of 3,727,800, with 33,000 more employed residents, and 31,800 fewer unemployed residents.
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.
The labor force is the sum of the numbers of employed residents and those unemployed, that is residents not working but actively seeking work in the last four weeks. Estimates may not add up to the total labor force due to rounding.
The preliminary December 2023 and revised November 2023 unemployment rate, labor force, and job estimates for Massachusetts will be released on Friday, January 19, 2024. See the 2023 Media Advisory annual schedule for a complete list of release dates.
Detailed labor market information is available at www.mass.gov/economicresearch.
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