For Immediate Release:
|MARCH 26, 2021|
Contact: Charles Pearce 617-626-7121
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|Massachusetts Unemployment & Job Estimates for February|
BOSTON, MA – MARCH 26, 2021 --- The state’s February total unemployment rate is down 0.7 percentage points at 7.1 percent , the Executive Office of Labor and Workforce Development announced Friday.
The Bureau of Labor Statistics’ preliminary job estimates indicate Massachusetts gained 14,100 jobs in February. This follows last month’s revised gain of 37,900 jobs. Over the month, the private sector added 22,300 jobs as gains occurred across all sectors, led by Leisure and Hospitality and Professional, Scientific, and Business Services.
From February 2020 to February 2021, BLS estimates Massachusetts lost 325,100 jobs. Losses occurred in each of the private sectors with the exception of Mining and Logging, with the largest percentage losses in Leisure and Hospitality, with 30.1% of the jobs lost; Other Services, with 19.0% of the jobs lost; and Education and Health Services, with 8.9% of the jobs lost.
The February unemployment rate was 0.9 percentage points higher than the national rate of 6.2 percent reported by the Bureau of Labor Statistics.
The labor force dropped by 11,900 from 3,756,700 in January, as 15,700 more residents were employed and 27,600 fewer residents were unemployed over the month.
Over the year, the state’s seasonally adjusted unemployment rate was up by 4.3 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 down two-tenths of a percentage point at 66.3 percent. Compared to February 2020, the labor force participation rate is down one-tenth of a percentage point.
February 2021 Employment Overview
Leisure and Hospitality gained 10,300 (+4.0%) jobs over the month. Over the year, Leisure and Hospitality lost 115,500 (-30.1%) jobs.
Professional, Scientific and Business Services gained 9,400 (+1.6%) jobs over the month. Over the year, Professional, Scientific and Business Services lost 14,800 (-2.4%) jobs.
Trade, Transportation and Utilities gained 2,000 (+0.4%) jobs over the month. Over the year, Trade, Transportation and Utilities lost 24,800 (-4.3%) jobs.
Education and Health Services gained 1,300 (+0.2%) jobs over the month. Over the year, Education and Health Services lost 74,000 (-8.9%) jobs.
Manufacturing gained 1,200 (+0.5%) jobs over the month. Over the year, Manufacturing lost -13,400 (-5.5%) jobs.
Financial Activities gained 800 (+0.4%) jobs over the month. Over the year, Financial Activities lost 3,500 (-1.6%) jobs.
Other Services had no over the month change in employment. Over the year, Other Services are down –26,900 (-19.0%) jobs.
Information lost 300 (-0.3%) jobs over the month. Over the year, Information lost 6,900 (-7.3%) jobs.
Construction lost 2,300 (-1.4%) jobs over the month. Over the year, Construction has lost 5,100 (-3.1%) jobs.
Government lost 8,200 (-1.9%) jobs over the month. Over the year, Government lost 40,200 (-8.7%) jobs.
Labor Force Overview
The February estimates show 3,477,700 Massachusetts residents were employed and 267,100 were unemployed, for a total labor force of 3,744,800. The unemployment rate dropped seven-tenths of a percentage point over the month. The February labor force decreased by 11,900 from 3,744,800 in January, as 15,700 more residents were employed and 27,600 fewer residents were unemployed over the month. The labor force participation rate, the share of working age population employed and unemployed, dropped two-tenths of a percentage point at 66.3 percent. The labor force was down 2,400 from the 3,747,200 February 2020 estimate, with 164,900 fewer residents employed and 162,500 more residents unemployed.
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.
NOTES: The labor force is the sum of the numbers of employed residents and those unemployed, that is residents not working but actively seeking work in the last four weeks. Estimates may not add up to the total labor force due to rounding. For further information on seasonal adjustment methodology, please refer to the Bureau of Labor Statistics website https://www.bls.gov.
Local area unemployment statistics for February 2021 will be released on Tuesday, March 30, 2021. The preliminary March 2021 and revised February 2021 unemployment rate, labor force and job estimates for Massachusetts will be released on Friday, April 16, 2021.
2021 Media Advisory
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|Statewide Seasonally Adjusted Unemployment||Statewide Seasonally Adjusted Employment|
|Statewide Not Seasonally Adjusted Unemployment||Statewide Not Seasonally Adjusted Employment|
|Labor Force and Unemployment Data||Current Employment Statistics Data|
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Massachusetts Department of Unemployment Assistance
Department Economic Research
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