BOSTON — Local unemployment rates increased in 18 of the 24 labor market areas across Massachusetts in October 2024 compared to September 2024, according to the Executive Office of Labor and Workforce Development. This includes the Lynn-Saugus-Marblehead area, which saw one of the highest year-over-year job growth rates.
Compared to October 2023, unemployment rates rose in all 24 labor market areas statewide. However, the Lynn-Saugus-Marblehead area reported a 1.5% increase in jobs, ranking third among areas with the largest percentage growth, behind Barnstable Town (+3.2%) and Taunton-Middleborough-Norton (+1.6%).
Among the 15 areas where employment estimates are published, 13 NECTA areas added jobs compared to the previous month. The largest increases were in Worcester MA-CT (+0.8%), Springfield MA-CT (+0.7%), and Taunton-Middleborough-Norton (+0.6%). The Barnstable Town area experienced the largest decrease at -1.1%.
Statewide, the seasonally adjusted preliminary jobs estimate for October 2024 indicated a loss of 200 jobs but a year-over-year gain of 32,900.
The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) estimated the statewide unadjusted unemployment rate for October 2024 at 3.7%, up 0.1 percentage point from the revised September 2024 figure and 0.2 percentage points below the national unadjusted unemployment rate of 3.9%.
Last week, the state reported a seasonally adjusted unemployment rate of 3.9% for October, up 0.1 percentage points from the revised September estimate. Nationally, the seasonally adjusted unemployment rate held steady at 4.1%, according to the BLS.
Unadjusted unemployment rates and job estimates for local labor market areas reflect seasonal trends, which may differ from statewide seasonally adjusted figures.
NOTES:
- Preliminary November 2024 and revised October 2024 unemployment rates, labor force data, and job estimates for Massachusetts will be released on Friday, Dec. 20, 2024.
- Local unemployment statistics for November 2024 will be available on Tuesday, Dec. 24, 2024.
Detailed labor market information can be found at www.mass.gov/EconomicResearch. See the 2024 Media Advisory for release dates.