Overall unemployment rate moved down to 2.9% with the biggest shift in Government, which gained 18,000 roles, based on the most recently available information published in November 2022.
Total employment in the Boston-Cambridge-Nashua, MA-NH market declined by 40,310 jobs in September and the unemployment rate decreased compared to the prior month by 30 bps to 2.9%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Boston-Cambridge-Nashua, MA-NH unemployment rate is 42 bps below the national rate which is a positive sign.
- Unemployment in the market is 180 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 4.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Education & Healthcare: 611,600; +13,800
- Business Services: 548,800; -6,700
- Transportation & Utilities: 412,000; -1,900
- Government: 297,600; +18,000
- Restaurants & Hotels: 260,800; -14,100
- Manufacturing: 185,900; -900
- Financial Services: 179,100; -2,200
- Construction, Mining: 136,000; no change
- Other Jobs: 94,000; -6,000
- IT & Development: 87,700; -1,200
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.