Overall unemployment rate moved down to 3.6% with the biggest shift in Government, which gained 1,700 roles, based on the most recently available information published in December 2022.
Total employment in the Springfield, MA-CT market rose by 3,823 jobs in October and the unemployment rate decreased compared to the prior month by 10 bps to 3.6%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Springfield, MA-CT unemployment rate is 20 bps above the national rate which is a negative sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 1.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Education & Healthcare: 85,900; +1,300
- Government: 65,500; +1,700
- Transportation & Utilities: 59,900; +400
- Restaurants & Hotels: 32,300; -1,300
- Manufacturing: 29,600; +200
- Business Services: 26,300; +700
- Financial Services: 14,800; +100
- Construction, Mining: 12,800; no change
- Other Jobs: 12,200; +300
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.