The Massachusetts Executive Office of Labor and Workforce Development (EOLWD) has reported continued growth in the state’s labor market, with payroll jobs increasing for the third consecutive month. Preliminary figures for last month show an increase of 3,200 payroll jobs, along with a rise in both employed residents and the labor force participation rate. The state's unemployment rate rose slightly to 4.8 percent, as per the Executive Office of Labor and Workforce Development release.
According to the U.S. Department of Labor’s Bureau of Labor Statistics (BLS), job gains in May were led by the Leisure and Hospitality sector (+1,400), followed by Financial Activities (+1,100), Construction (+1,000), and Education and Health Services (+1,000). These gains follow April’s revised increase of 8,100 jobs.
The labor force in Massachusetts grew by approximately 12,200 people last month, bringing the total to 3,956,500.
Secretary of Labor and Workforce Development Lauren Jones attributed the growth in part to increased participation by youth and young adults. She also highlighted efforts to connect job seekers with training opportunities, including the Massachusetts Life Sciences Center (MLSC) Pathmaker Program.
The state has also announced a $29.9 million tax incentive and a $20 million training fund aimed at preparing 18,000 workers and creating 1,200 new jobs in the life sciences sector.
Mark Rembert, Chief Economist at the EOLWD’s Department of Economic Research, noted that despite the recent gains, both the national and state economies continue to face challenges. He emphasized the need to monitor future data to assess the durability of these trends.
