Overall unemployment rate moved down to 3.1% with the biggest shift in Government, which lost 22,100 roles, based on the most recently available information published in August 2022.
Total employment in the Boston-Cambridge-Nashua, MA-NH market rose by 3,156 jobs in July and the unemployment rate decreased compared to the prior month by 10 bps to 3.1%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Boston-Cambridge-Nashua, MA-NH unemployment rate is 68 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 July versus prior month by 3.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Education & Healthcare: 598,900; +3,600
- Business Services: 556,400; +7,400
- Transportation & Utilities: 414,700; -1,700
- Government: 281,300; -22,100
- Restaurants & Hotels: 275,500; +5,300
- Manufacturing: 186,800; +1,200
- Financial Services: 181,400; +1,400
- Construction, Mining: 135,600; +1,900
- Other Jobs: 101,200; +3,000
- IT & Development: 89,000; +1,500
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.