Mass. Unemployment Rate Rises To 3.7 Percent
Mass Among 25 State Seeing Jobless Rate Increases From A Year Ago
SEPT. 20, 2024……The unemployment rate in Massachusetts rose to 3.7 percent in August, up nearly half a percentage point from a year ago.
The Bureau of Labor Statistics reported Friday morning that Massachusetts was among 25 states that saw jobless rate increases from a year ago. The jobless rate in Massachusetts was 3.3 percent in August 2023, and the rate this August rose from July’s 3.5 percent.
At 2 percent, South Dakota had the lowest jobless rate in August, followed by Vermont at 2.2 percent and North Dakota at 2.3 percent. The District of Columbia had the highest unemployment rate, 5.7 percent, followed by Nevada, 5.5 percent.
The national unemployment rate in August was 4.2 percent, compared to 3.8 percent in August 2023. Massachusetts was among the 27 states with rates lower than national unemployment rate in August.
The numbers were released Friday as candidates at the local, state and national levels compete for public offices, and the data represents one of the last official snapshots of the jobs and unemployment picture before the Nov. 5 elections. Falling interest rates and easing inflation are coloring the debate over the economy, with a stalled economic development bill in Massachusetts also making headlines.
Connecticut was the only state with a jobless rate that fell from July to August, dipping from 3.6 percent to 3.4 percent. At 4.6 percent in August, Rhode Island’s unemployment rate made the largest over-the-year jump among states. The Ocean State posted a 2.9 percent jobless rate in August 2023.
Massachusetts labor officials reported Friday that the state’s labor force participation rate in August hit its highest level since January 2020. The rate measures the number of residents 16 or older who worked, or were unemployed and actively sought work in the last four weeks. It increased 0.2 percentage points over the month, to 66.3 percent, and is up 1.3 percentage points over the year.
Massachusetts also gained 40,000 jobs from August 2023 to August 2024, the state said, citing Bureau of Labor Statistics data.
The BLS also reported that Massachusetts had 176,000 job openings in July, compared to 213,000 openings in June. Over the 12 months ending in July, hires averaged 110,000 per month and separations averaged 98,000 per month, BLS said. Among the July separations in Massachusetts, 61,000 were quits and 42,000 were layoffs and discharges.
