Employment Snapshot - Boston-Cambridge-Nashua, MA-NH March-2023

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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Additional Benchmarking Resources

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Overall unemployment rate moved down to 3.4% with the biggest shift in Restaurants & Hotels, which gained 8,400 roles, based on the most recently available information published in May 2023.

Total employment in the Boston-Cambridge-Nashua, MA-NH market declined by 5,240 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 3.4%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.

Boston-Cambridge-Nashua, MA-NH unemployment rate is 22 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 March versus prior month by 0.3% 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 March 2023

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

Education & Healthcare: 617,900; +7,200
Business Services: 542,600; +3,000
Transportation & Utilities: 406,000; -1,100
Government: 313,800; +400
Restaurants & Hotels: 248,200; +8,400
Financial Services: 189,200; -200
Manufacturing: 182,000; +200
Construction, Mining: 124,700; +2,800
Other Jobs: 100,400; +800
IT & Development: 84,200; -100

Employment Change by Key Sector

Boston-Cambridge-Nashua, MA-NH Unemployment by Industry March 2023

Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Boston-Cambridge-Nashua, MA-NH