Thursday, October 20, 2011

Mass Unemployment Drops to 3 Year Low

Mass. unemployment rate drops to 7.3 percent  
By Robert Gavin, Globe Staff

The state unemployment rate last month fell to its lowest level in nearly three years, as key sectors on the state economy continued to add jobs, the state’s Executive Office of Labor and Workforce Development reported today.

The jobless rate in Massachusetts fell to 7.3 percent from 7.4 percent in August. It was the lowest rate since January 2009. The national unemployment rate is 9.1 percent.
Employers cut a net 2,300 jobs, but the sectors that drive the state economy, including education, health care, and professional, scientific and business services added jobs. Professional, scientific, and business services, which include a variety of technology and scientific research firms, added 1,500 jobs in September, the 10th consecutive month of gains in that sector. Education and health care services added 500. Information, which includes telecommunications and software publishers, added 5,200 jobs as Verizon employees returned to work after striking in August.

Job losses in leisure and hospitality, construction, financial services, and other services offset these gains, resulting in a net loss of jobs in September. The unemployment rate and employment levels are determined by separate surveys and they at time diverge. Employment levels are estimated by a survey of employers, the jobless rate by a survey of households.

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