BOSTON – Revised benchmark numbers from the U.S. Bureau of Labor Statistics released today show that Massachusetts created 92,800 jobs in 2011 and 2012, 32,100 more jobs than previously estimated. Revisions to the statewide unemployment rate also show very little month-to-month change for 2012.
Every year, the Bureau of Labor Statistics (BLS) releases year-end revisions to its previous estimates for job growth and unemployment. While initial estimates of job growth are based on surveys of representative samples, the benchmark revisions are based on actual data collected from employers in the Commonwealth through September 2012. Revised jobs numbers for the last quarter of 2012 are still based on projections.
“We still have work to do to make sure everyone in Massachusetts who wants a job can find one and that companies who want to hire can find the employees they need but these new jobs number based on actual data make me more confident than ever that our investments in innovation, infrastructure and education are helping the Commonwealth recover faster and stronger,” said Labor and Workforce Development Secretary Joanne F. Goldstein. “These jobs estimates show a steady job recovery and more continuous job growth compared to previously published estimates for 2011 and 2012.”
The revised unemployment numbers, drawn from newly revised data, show that the unemployment rate for every month of 2012 was between 6.6% and 6.8% and there was very little change from month-to-month.
In January 2013, the Massachusetts unemployment rate was 6.7%. According to the BLS, 19,300 private sector jobs were created while government jobs declined by 3,200. Thus, the Commonwealth added 16,100 jobs in the first month of 2013.
2011-2012 Benchmark Job Growth Revisions by Sector
Education and Health Services: Previous estimates showed jobs in Education and Health Services increased by 300 in 2011 followed by a gain of 7,300 jobs in 2012. Revised estimates show Education and Health Services gained 13,800 jobs in 2011followed by a gain of 13,900 jobs in 2012.
Construction: Previous estimates showed jobs in Construction decreased by 2,000 in 2011 followed by a gain of 300 jobs in 2012. Revised estimates show Construction added 5,400 jobs in 2011 followed by a gain of 2,400 jobs in 2012.
Leisure and Hospitality: Previous estimates show jobs in Leisure and Hospitality decreased by 2,200 in 2011 followed by a gain of 6,300 jobs in 2012. Revised estimates show Leisure and Hospitality gained 7,200 jobs in 2011 followed by a gain of 10,700 jobs in 2012.
Manufacturing: Previous estimates showed jobs in manufacturing increased by 2,300 in 2011 followed by a decrease of 1,100 jobs in 2012. Revised estimates show Manufacturing lost 1,100 jobs in 2011 followed by a loss of 2,500 jobs in 2012.
Government: Previous estimates showed Government jobs declined by 6,000 in2011 followed by a gain of 900 jobs in 2012. Revised estimates show government lost 3,600 jobsin 2011followed by a gain of 6,200 jobs in 2012.
Professional, Scientific and Business Services: Previous estimates indicated this sector added 9,900 jobs in 2011 and another 22,800 jobs gained in 2012. Revised estimates show 16,200 jobs added in 2011 and another 9,300 jobs gained in 2012.
January 2013 Employment Overview
Professional, Scientific, and Business Services added 5,100 (+1%) jobs over the month. Over the year, Professional, Scientific, and Business Services added 15,100 (+3.1%) jobs with gains across all components.
Trade, Transportation, and Utilities added 2,400 (+0.4%)jobs over the month with gains across all components. Over the year, Trade, Transportation, and Utilities added 6,500 (+1.2%) jobs; Retail Trade added 3,600 (+1%) jobs; Transportation added 2,600 (+3.1%) jobs; and Wholesale Trade added 300 (+0.2%) jobs.
Leisure and Hospitality added 3,300 (+1%) jobs over the month due to gains in both components. Over the year, Leisure and Hospitality added 10,700 (+3.3%) jobs.
Construction added 2,400 (+2.1%) jobs over the month. Over the year, Construction added3,700 (+3.2%) jobs.
Other Services added 1,300 (+1.1%) jobs over the month. Over the year, Other Services added 2,700 (+2.2%) jobs.
Information added 700 (0.8%) jobs over the month. Over the year, Information gained 2,300 (+2.7%) jobs.
Financial Activities added 100 (+0.0%) jobs over the month. Over the year, Financial Activities gained 500 (+0.2%) jobs; Finance and Insurance lost 300 (-0.2%) jobs; Real Estate, Rental and Leasing added 800 (+2%) jobs.
Education and Health Services gained 1,900 (+0.3%) jobs over the month. Over the year, Education and Health Services gained 14,300 (+2.1%) jobs.
Manufacturing gained 2,100 jobs (+0.8%) over the month. Over the year, Manufacturing lost 1,500 (-0.6%) jobs.
Mining and Logging gained no (0.0%) jobs. Over the year, Mining and Logging lost 200 (-18.2%) jobs.
Government lost 3,200 (-0.7%) jobs over the month. Local Government lost 1,400 (-0.5%) jobs, State Government lost 1,600 jobs (-1.3%) and Federal Government lost 200 (-0.4%) jobs. Over the year, Government gained 3,000 (+0.7%) jobs.
Labor Force Overview
The January 2013 estimates show 3,251,000 Massachusetts residents were employed and 232,900 were unemployed, for a total labor force of 3,483,900. The January labor force increased by 2,100 from 3,481,800 in December, as 2,800 more residents were employed and 600 fewer residents were unemployed over the month. The labor force was 7,400 above last year’s level, with 9,400 more residents employed and 2,000 fewer 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.
