Massachusetts Unemployment Drops to 8-Year Low

Massachusetts’ unemployment rate fell slightly to 4.6 percent in May, the lowest it’s been since December 2007, according to the state’s Executive Office of Labor and Workforce Development. Massachusetts employers added 7,400 jobs in May, the ninth consecutive month of job gains.

 

Construction experienced the largest uptick in hiring of about 3,500 jobs. Retail gained 1,500 jobs, manufacturing added 600 jobs and financial activities added 700 jobs, while transportation and warehousing lost 500 jobs.

 

Over the past year, the state unemployment rate has fallen 1.2 percentage points and is nearly half of the peak unemployment rate of 8.8 percent in September 2009. Education and health services, as well as professional, scientific, and business services have grown fastest in the past year.

 

Nationally, the unemployment rate is 5.5 percent.

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