Massachusetts Unemployment & Job Estimates for March
BOSTON, MA – April 15, 2022 – The state’s March total unemployment rate dropped by four-tenths of a percentage point at 4.3 percent over the month, the Executive Office of Labor and Workforce Development announced Friday.
The Bureau of Labor Statistics’ preliminary job estimates indicate Massachusetts gained 21,000 jobs in March. This follows last month’s revised gain of 22,300 jobs. The largest over the month private sector job gains were in Professional, Scientific, and Business Services, Education and Health Services, and Leisure and Hospitality. Employment now stands at 3,651,100. Since the employment trough in April 2020, Massachusetts gained 600,100 jobs.
From March 2021 to March 2022, BLS estimates Massachusetts gained 186,400 jobs. The largest over the year gains occurred in Leisure and Hospitality; Professional, Scientific, and Business Services; and Education and Health Services. Financial Activities was the only sector to see job losses.
The March unemployment rate of 4.3 percent was 0.7 percentage point above the national rate reported by the Bureau of Labor Statistics.
The labor force grew by an estimated 2,700 from 3,772,500 in February, as 18,000 more residents were employed, and 15,300 fewer residents were unemployed over the month.
Over the year, the state’s seasonally adjusted unemployment rate was down by 2.1 percentage points.
The state’s labor force participation rate – the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks – was up one-tenth of a percentage point at 66.0 percent over the month. Compared to March 2021, the labor force participation rate was up 0.8 percentage point.
March 2022 Employment Overview
Professional and Business Services gained 7,200 (+1.2%) jobs over the month. Over the year, 33,300 (+5.6%) jobs were added.
Education and Health Services gained 6,900 (+0.9%) jobs over the month. Over the year, 30,400 (+3.9%) jobs were added.
Leisure and Hospitality gained 3,900 (+1.2%) jobs over the month. Over the year, 69,400 (+25.5%) jobs were added.
Trade, Transportation and Utilities gained 2,000 (+0.4%) over the month. Over the year, 16,400 (+3.0%) jobs were added.
Information gained 900 (+0.9%) jobs over the month. Over the year, 4,900 (+5.4%) jobs were added.
Government gained 800 (+0.2%) jobs over the month. Over the year, 11,900 (+2.8%) jobs were added.
Manufacturing gained 600 (+0.3%) jobs over the month. Over the year, 6,600 (+2.9%) jobs were added.
Construction gained 100 (+0.1%) jobs over the month. Over the year, 8,700 (+5.3%) jobs were added.
Financial Activities lost 100 jobs (-0.0%) over the month. Over the year, 4,200 (-1.9%) jobs were lost.
Other Services lost 1,200 (-0.9%) jobs over the month. Over the year, 9,000 (+7.6%) jobs were added.
Labor Force Overview
The March estimates show 3,614,700 Massachusetts residents were employed and 160,600 were unemployed, for a total labor force of 3,775,300. The unemployment rate was down 0.4 percentage point at 4.3 percent from the February rate of 4.7 percent. Over the month, the March labor force was up by 2,700 from 3,772,500 in February, with 18,000 more residents employed and 15,300 fewer residents unemployed. The labor force participation rate, the share of working age population employed and unemployed, increased by 0.1 percentage point at 66.0 percent. The labor force was up 39,900 from the March 2021 estimate of 3,735,400, as 118,000 more residents were employed, and 78,100 fewer residents were unemployed.
The unemployment rate is based on a monthly sample of households. The job estimates are derived from a monthly sample survey of employers. As a result, the two statistics may exhibit different monthly trends.
The labor force is the sum of the numbers of employed residents and those unemployed, that is residents not working but actively seeking work in the last four weeks. Estimates may not add up to the total labor force due to rounding.
For further information on seasonal adjustment methodology, please refer to the Bureau of Labor Statistics website https://www.bls.gov.
Detailed labor market information is available at www.mass.gov/lmi.