Massachusetts Unemployment & Job Estimates for October

BOSTON, MA – November 18, 2022 – The state’s October total unemployment rate was 3.5 percent, up one-tenth of a percentage point over-the-month, the Executive Office of Labor and Workforce Development announced Friday. 
The Bureau of Labor Statistics’ preliminary job estimates indicate Massachusetts gained 9,800 jobs in October. This follows last month’s revised gain of 22,900 jobs. The largest over the month private sector job gains were in Financial Activities, Professional and Business Services, and Government. Employment now stands at 3,710,600.  Since the employment trough in April 2020, Massachusetts gained 659,600 jobs. 
From October 2021 to October 2022, BLS estimates Massachusetts gained 141,300 jobs. The largest over the year gains occurred in Professional and Business Services, Leisure and Hospitality, and Education and Health Services.  
The October unemployment rate of 3.5 percent was two-tenths of a percentage point below the national rate of 3.7 percent reported by the Bureau of Labor Statistics.  
The labor force decreased by an estimated 3,800 from 3,749,600 in September, as 6,200 fewer residents were employed, and 2,300 more residents were unemployed over-the-month. 
Over-the-year, the state’s seasonally adjusted unemployment rate was down by 1.5 percentage points.