Employment Snapshot - Boston-Cambridge-Nashua, MA-NH February-2021

Weller Emmons

VP of Analytics and Finance at Mployer Advisor. He is passionate about leveraging data to provide industry leading insights for Mployer Advisor’s clients. Prior to joining Mployer Advisor, Emmons served as a healthcare provider strategy consultant for Knowledge Capital Group and as an internal strategy consultant at HCA Healthcare. Emmons earned his MBA and BE in Biomedical Engineering, both from Vanderbilt University.

Market Employment Summary

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Overall unemployment rate moved down to 6.5% with the biggest shift in Education & Healthcare, which gained 10,000 roles, based on the most recently available information published in April 2021.

Total employment in the Boston-Cambridge-Nashua, MA-NH market rose by 14,688 jobs in February and the unemployment rate decreased compared to the prior month by 30 bps to 6.5%. The national unemployment rate decreased by 26 bps over the same time to 6.6%.

Boston-Cambridge-Nashua, MA-NH unemployment rate is 5 bps below the national rate which is a positive sign.
Unemployment in the market is 360 bps above the unemployment rate in the market last year at this time, which is a negative.
Average wages (per hour) grew in February versus prior month by 6% and are down compared to last year at this time in the market.

Month over Month Unemployment Change

Year over Year Unemployment Change

Boston-Cambridge-Nashua, MA-NH Unemployment February 2021

For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:

Education & Healthcare: 553,700; +10,000
Business Services: 502,000; +6,000
Transportation & Utilities: 395,400; -4,300
Government: 297,500; +3,500
Financial Services: 181,500; +400
Manufacturing: 176,500; +1,300
Restaurants & Hotels: 173,000; +7,600
Construction, Mining: 111,600; -2,500
Other Jobs: 83,300; -600
IT & Development: 78,300; -700

Employment Change by Key Sector

Boston-Cambridge-Nashua, MA-NH Unemployment by Industry February 2021

Data is based on the most recent 12 months available, through February 2021 (Data published April 2021 and reports created on April 9, 2021). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Boston-Cambridge-Nashua, MA-NH