Overall unemployment rate moved down to 5.0% with the biggest shift in Government, which gained 3,900 roles, based on the most recently available information published in April 2022.
Total employment in the Springfield, MA-CT market rose by 6,764 jobs in February and the unemployment rate decreased compared to the prior month by 80 bps to 5.0%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Springfield, MA-CT unemployment rate is 86 bps above the national rate which is a negative sign.
- Unemployment in the market is 320 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 1.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 2.4% . Key sectors include:
- Education & Healthcare: 84,300; +2,700
- Government: 62,600; +3,900
- Transportation & Utilities: 58,700; -200
- Manufacturing: 29,200; +100
- Restaurants & Hotels: 29,200; +500
- Business Services: 24,500; +800
- Financial Services: 14,500; no change
- Other Jobs: 11,700; no change
- Construction, Mining: 11,400; no change
- IT & Development: 2,800; no change
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.