Mass. unemployment rate at lowest point since 9/11
Posted on September 15, 2016Mass. unemployment rate at lowest point since 9/11
By Deirdre Fernandes Globe Staff September 15, 2016
The Massachusetts unemployment rate dropped to 3.9 percent in August, its lowest point in 15 years, the state announced on Thursday.
The last time unemployment hit 3.9 percent was in August of 2001, before the entire collapse of the dot-com bubble and the Sept. 11 terrorist attacks.
Employers added 5,900 jobs, primarily in leisure and hospitality, education and healthcare and in other service sectors, bringing the unemployment rate down from 4.1 percent in July, according to the Executive Office of Labor and Workforce Development.
The tighter labor market helped more Massachusetts residents find work as the labor force increased to 3,610,500, the state agency said.
The state’s unemployment rate, which is what most economists consider close to full employment, is a whole percentage point below the national average of 4.9 percent.