Massachusetts unemployment rate now down to 2.9%

Rate is now at its lowest level since 2001

holyoke-unemployment-lowest

BOSTON (WWLP) – The statewide unemployment rate has fallen to just below 3%; the lowest level in nearly 16 years.

The jobless rate for the month of November was 2.9%, a drop from October’s rate of 3.3%. The rate has not been this low since January 2001, so it is a pretty big milestone.

Massachusetts employers added 5,800 jobs last month. The industries that saw the most gains were finance, scientific and business services, and construction.

The steady job growth, however, has not resulted in a surge in tax collections, at a time when the state is battling a budget and revenue shortfall.

Rep. Aaron Vega (D-Holyoke) told 22News that there is still much more work to do to boost the economy.

“It really doesn’t address the other issues when we talk about people who are working two or three part-time jobs just to make a living wage. It doesn’t talk about the people who are on assistance who are unable to get jobs. It doesn’t talk about the people who have given up looking for jobs,” Vega said.

Massachusetts has managed to keep its unemployment rate lower than the national average of 4.6%.

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