Published on January 19, 2012 by Cape and Plymouth Business
The Executive Office of Labor and Workforce Development reported that the total unemployment rate was 6.8 percent, down 0.2 of a percentage point from the November rate of 7.0 percent, and well below the national rate of 8.5 percent. It is the lowest monthly rate since December of 2008. The preliminary December estimates show a decrease of 6,200 jobs in Massachusetts, for a total of 3,234,500 jobs.
Four of the ten private sectors added jobs in December with gains in Trade, Transportation, and Utilities; Manufacturing; Information; and Financial Activities. The December job loss follows a revised 300 job gain in November originally reported as 5,000.
Over-the-year (December 2010 to December 2011), 40,700 jobs have been added in the Bay State, a growth rate of 1.3 percent, with 45,600 private sector jobs added for a growth rate of 1.7 percent. Over-the-year, the national rate of job growth is 1.3 percent with private sector job growth up 1.8 percent.