Overall unemployment rate moved up to 3.7% with the biggest shift in Education & Healthcare, which gained 14,800 roles, based on the most recently available information published in April 2023.
Total employment in the Boston-Cambridge-Nashua, MA-NH market declined by 5,390 jobs in February and the unemployment rate increased compared to the prior month by 10 bps to 3.7%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Boston-Cambridge-Nashua, MA-NH unemployment rate is 19 bps below the national rate which is a positive sign.
- Unemployment in the market is equal to the unemployment rate in the market last year at this time.
- Average wages (per hour) grew in February versus prior month by 0.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Education & Healthcare: 611,100; +14,800
- Business Services: 539,500; +3,100
- Transportation & Utilities: 407,000; -4,300
- Government: 315,000; +4,500
- Restaurants & Hotels: 237,800; -4,400
- Financial Services: 189,800; +1,000
- Manufacturing: 182,000; +200
- Construction, Mining: 122,300; -100
- Other Jobs: 98,900; -400
- IT & Development: 83,500; +100
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.