Boston, MA — August 19, 2022– The state’s July total unemployment rate dropped by two-tenths of a percentage point at 3.5 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 13,500 jobs in July. This follows last month’s revised gain of 5,800 jobs. The largest over the month private sector job gains were in Professional and Business Services, Education and Health Services, and Other Services. Employment now stands at 3,680,100. Since the employment trough in April 2020, Massachusetts gained 629,100 jobs.
From July 2021 to July 2022, BLS estimates Massachusetts gained 134,500 jobs. The largest over the year gains occurred in Professional, Scientific, and Business Services, Leisure and Hospitality, and Education and Health Services.
The July unemployment rate of 3.5 percent was the same as the national rate reported by the Bureau of Labor Statistics.
The labor force decreased by an estimated 7,500 from 3,773,100 in June, as 800 more residents were employed, and 8,300 fewer residents were unemployed over-the-month.
Over-the-year, the state’s seasonally adjusted unemployment rate was down by 2.2 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 down two-tenths of a percentage point at 65.8 percent. Compared to July 2021, the labor force participation rate was up 0.2 percentage points.
July 2022 Employment Overview
Government gained 12,800 jobs over the month. Over the year, 4,500 jobs were lost.
Professional and Business Services gained 5,500 jobs over the month. Over the year, 34,300 jobs were added.
Education and Health Services gained 5,200 jobs over the month. Over the year, 30,200 jobs were added.
Other Services gained 1,400 jobs over the month. Over the year, 6,900 jobs were added.
Information gained 1,300 jobs over the month. Over the year, 5,200 jobs were added.
Manufacturing gained 900 over the month. Over the year, 8,400 jobs were added.
Financial Activities gained 500 jobs over the month. Over the year, 2,600 were lost.
Construction lost 600 jobs over the month. Over the year, 9,500 jobs were added.
Trade, Transportation, And Utilities lost 1,200 jobs over the month. Over the year, 16,400 jobs were added.
Leisure And Hospitality lost 12,300 jobs over the month. Over the year, 30,700 jobs were added.
Labor Force Overview
The July estimates show 3,634,600 Massachusetts residents were employed and 130,900 were unemployed, for a total labor force of 3,765,600. The unemployment rate was down 0.2 percentage points at 3.5 percent from the June rate of 3.7 percent. Over-the-month, the July labor force was down by 7,500 from 3,773,100 in June, with 800 more residents employed and 8,300 fewer residents unemployed. The labor force participation rate, the share of working age population employed and unemployed, dropped at 65.8 percent. The labor force was up 8,300 from the July 2021 estimate of 3,757,200, as 90,000 more residents were employed, and 81,700 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.