Overall unemployment rate moved down to 3.1% with the biggest shift in Transportation & Utilities, which gained 7,800 roles, based on the most recently available information published in February 2022.
Total employment in the Boston-Cambridge-Nashua, MA-NH market declined by 3,756 jobs in December and the unemployment rate decreased compared to the prior month by 100 bps to 3.1%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Boston-Cambridge-Nashua, MA-NH unemployment rate is 59 bps below the national rate which is a positive sign.
- Unemployment in the market is 370 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 2.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Education & Healthcare: 574,400; +1,900
- Business Services: 536,600; -1,900
- Transportation & Utilities: 419,200; +7,800
- Government: 305,900; -300
- Restaurants & Hotels: 223,700; +1,300
- Manufacturing: 187,500; +600
- Financial Services: 180,600; no change
- Construction, Mining: 126,300; -3,000
- Other Jobs: 91,400; +400
- IT & Development: 84,400; +1,100
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.