Overall unemployment rate moved up to 4.4% with the biggest shift in Transportation & Utilities, which lost 12,200 roles, based on the most recently available information published in March 2022.
Total employment in the Boston-Cambridge-Nashua, MA-NH market rose by 9,634 jobs in January and the unemployment rate increased compared to the prior month by 130 bps to 4.4%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Boston-Cambridge-Nashua, MA-NH unemployment rate is 3 bps below the national rate which is a positive sign.
- Unemployment in the market is 240 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 5.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.9%. Key sectors include:
- Education & Healthcare: 583,500; -9,400
- Business Services: 522,000; -6,400
- Transportation & Utilities: 402,900; -12,200
- Government: 301,400; -6,700
- Restaurants & Hotels: 220,800; -8,800
- Manufacturing: 181,400; -100
- Financial Services: 179,000; -1,000
- Construction, Mining: 120,100; -6,000
- Other Jobs: 93,200; -1,200
- IT & Development: 82,500; -600
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.