The latest data from the Bureau of Labor Statistics shows a gain of 68,100 jobs in Massachusetts on a year-over-year basis, from August 2017 to August 2018. The Massachusetts unemployment rate stands at 3.6%. Nationally, the average unemployment rate stands at 3.9%.
Private-sector employment has been robust in Construction, Professional and Scientific fields. Healthcare, Education, and Leisure and Hospitality sectors remain strong as well.
Meanwhile, public-sector employment in Government Services has shown a small decline. Utilities and transportation services are also showing modest employment declines.
Here are the industries with the greatest increase in employment, on a year-over-year basis:
Construction: 7.0% increase
Professional, Scientific and Business Services: 5.0% increase
Leisure and Hospitality: 3.1% increase
Manufacturing: 1.8% increase
Education and Health Services: 1.2% increase
Financial Activities: 0.6% increase
Information Technology: 0.1% increase
Overall, Massachusetts employment levels reflect the economic vitality of the Commonwealth. The diversity of employment opportunities draws new residents, while our highly-educated workforce attracts major employers. This positive cycle is complimented by ongoing global and domestic investment activity.
Are you ready to find a new Boston Metro location to begin, relocate or expand your business? Team up with the Jay Nuss Realty Group, LLC!