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. Employment now stands at 3,651,100. Since the employment trough in April 2020, Massachusetts gained 600,100 jobs.
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.
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