Wow.
The Massachusetts unemployment rate fell last month for the first time in more than two years, plunging nearly a half-percentage point as employers trimmed payrolls by just 900 jobs, the state Executive Office of Labor and Workforce Development reported today. The state jobless rate dropped to 8.9 percent in October from 9.3 percent in September, the first decline since June 2007. The surprising decrease bucked the national trend, which saw the US unemployment rate soar into the double digit for the first time since the early 1980s, hitting 10.2 percent.
The news isn't good across the board, but is perhaps unexpectedly broad -- particularly the construction numbers.
In Massachusetts, manufacturing, retail, financial services, and other sectors continued to cut jobs, but most of those losses were offset by strong gains in two of the state's key employment sectors: professional and business services, and education and health services. The beleaguered construction industry even added 100 jobs, the first gain since February.
Great news for MA, and of course, great news for Governor Patrick. If these numbers hold up going forward, and MA continues recovering and actually decreasing unemployment ahead of the rest of the country, his opponents' easiest argument becomes a whole lot harder to make. |