Press Release  Latest Seasonally Unadjusted Unemployment and Job Estimates for Local Labor Markets in Massachusetts for February 2024

BOSTON — Local unemployment rates increased in twenty-two labor market areas and remained unchanged in two labor market areas in the state during the month of February 2024 compared to January 2024, the Executive Office of Labor and Workforce Development reported.

Compared to February 2023, the rates were down in twenty-four labor market areas.

Of the fifteen areas for which employment estimates are published, fourteen NECTA areas gained jobs compared to the previous month. The largest percentage increases occurred in the Brockton-Bridgewater-Easton (+1.3%), Springfield MA-CT (+1.1%), and Leominster-Gardner (+1%) areas.

From February 2023 to February 2024, twelve areas gained jobs with the largest percentage increases seen in the Barnstable Town (+5.7%), Lynn-Saugus-Marblehead (+2.9%), and Pittsfield (+2.3%) areas.

The statewide seasonally adjusted preliminary jobs estimate showed an increase of 6,300 jobs in February, and an over-the-year gain of 24,800 jobs.

In order to compare the statewide rate to local unemployment rates, the U.S. Department of Labor’s Bureau of Labor Statistics estimates the statewide unadjusted unemployment rate for February 2024 was 3.7%, up 0.2 percentage points from the revised January 2024 estimate and was the 0.5 percentage points below the nation’s unadjusted unemployment rate of 4.2%.

Last week, the Executive Office of Labor and Workforce Development reported the statewide seasonally adjusted unemployment rate in the month of February 2024 was 2.9%, down 0.1 percentage point compared to the revised January 2024 estimate. The Bureau of Labor Statistics reported the nation’s seasonally adjusted unemployment rate for February 2024 increased by 0.2 percentage points over-the-month to 3.9%.

The unadjusted unemployment rates and job estimates for the labor market areas reflect seasonal fluctuations and therefore may show different levels and trends than the statewide seasonally adjusted estimates.

The estimates for labor force, unemployment rates, and jobs for Massachusetts are based on different statistical methodology specified by the Bureau of Labor Statistics.

NOTES: The preliminary March 2024 and the revised February 2024 unemployment rates, labor force data and jobs estimate for Massachusetts will be released on Friday, April 19, 2024; local unemployment statistics for March 2024 will be released on Tuesday, April 23, 2024. Detailed labor market information is available at http://www.mass.gov/EconomicResearch. See the 2024 Media Advisory for complete list of release dates.

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