Employment Snapshot - Boston-Cambridge-Nashua, MA-NH November-2022

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 2.7% with the biggest shift in Education & Healthcare, which gained 7,000 roles, based on the most recently available information published in January 2022.

Total employment in the Boston-Cambridge-Nashua, MA-NH market declined by 3,734 jobs in November and the unemployment rate decreased compared to the prior month by 10 bps to 2.7%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.

Boston-Cambridge-Nashua, MA-NH unemployment rate is 66 bps below the national rate which is a positive sign.
Unemployment in the market is 120 bps below the unemployment rate in the market last year at this time, which is a positive.
Average wages (per hour) grew in November versus prior month by 2.9% 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 November 2022

For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:

Education & Healthcare: 623,700; +7,000
Business Services: 559,100; +900
Transportation & Utilities: 421,700; +6,200
Government: 310,900; +1,900
Restaurants & Hotels: 256,100; -3,700
Manufacturing: 185,300; -500
Financial Services: 183,400; +1,200
Construction, Mining: 135,100; -200
Other Jobs: 94,900; +500
IT & Development: 89,600; +500

Employment Change by Key Sector

Boston-Cambridge-Nashua, MA-NH Unemployment by Industry November 2022

Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Boston-Cambridge-Nashua, MA-NH