Finance jobs in Boston grow

Posted on June 3, 2019

New labor statistics show that finance jobs in Boston have increased.

he April unemployment rate was seven-tenths of a percentage point lower than the national rate of 3.6 percent reported by the Bureau of Labor Statistics.

“Preliminary estimates indicate that in April the Massachusetts unemployment rate fell below 3 percent for the first time since December 2000. Year to date the Commonwealth’s economy has added 25,400 jobs showing that even with a low 2.9 percent unemployment rate, Massachusetts employers continue to add jobs to help fuel their growth needs,” Labor and Workforce Development Secretary Rosalin Acosta said.

The labor force decreased by 3,200 from 3,843,500 in March, as 1,600 fewer residents were employed and 1,600 fewer residents were unemployed over the month.

Over the year, the state’s seasonally adjusted unemployment rate dropped six-tenths of a percentage point.

The state’s labor force participation rate – the total number of residents 16 or older who worked or were unemployed and actively sought work in the last four weeks – decreased one-tenth of a percentage point to 67.8 percent. Compared to April 2018, the labor force participation rate is up 0.4 percentage point.

The largest private sector percentage job gains over the year were in Professional, Scientific, and Business Services; Information; Construction; and Education and Health Services.

Construction added 2,400 (+1.5%) jobs over the month. Over the year, Construction has gained 2,700 (+1.7%) jobs.

Professional, Scientific and Business Services added 2,300 (+0.4%) jobs over the month. Over the year, Professional, Scientific and Business Services gained 11,100 (+1.9%) jobs.

Education and Health Services added 1,600 (+0.2%) jobs over the month. Over the year, Education and Health Services gained 12,900 (+1.6%) jobs.

Financial Activities added 400 (+0.2%) jobs over the month. Over the year, Financial Activities gained 200 (+0.1%) jobs.

Information added 300 (+0.3%) jobs over the month. Over the year, Information gained 1,700 (+1.9%) jobs.

Other Services gained 200 (+0.1%) jobs over the month. Over the year, Other Services are up 2,000 (+1.4%) jobs.