Overall unemployment rate moved down to 3.7% with the biggest shift in Government, which gained 3,900 roles, based on the most recently available information published in November 2022.
Total employment in the Springfield, MA-CT market declined by 402 jobs in September and the unemployment rate decreased compared to the prior month by 60 bps to 3.7%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Springfield, MA-CT unemployment rate is 38 bps above the national rate which is a negative sign.
- Unemployment in the market is 210 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 4.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.2% . Key sectors include:
- Education & Healthcare: 84,900; +1,700
- Government: 64,000; +3,900
- Transportation & Utilities: 59,000; +700
- Restaurants & Hotels: 33,900; -1,300
- Manufacturing: 29,200; no change
- Business Services: 25,600; -300
- Financial Services: 14,700; -100
- Construction, Mining: 12,800; -200
- Other Jobs: 11,900; -300
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.