Bay State job growth hits fifth straight month

Written By Unknown on Rabu, 11 Maret 2015 | 18.38

Massachusetts added 2,600 jobs in January, the fifth straight month the state has added more than 2,500 jobs — prompting optimism from economists.

"Finally we've reached escape velocity from the recession," said Robert Nakosteen, an economist and professor at UMass Amherst. "All systems seem to be go."

The state Department of Labor and Workforce Development said yesterday the economy added 2,600 jobs in January, with six of nine sectors seeing job growth. Some of the largest gains came in the trade, transportation, utilities, and construction sectors.

The last time the state lost jobs was in August, but even that decline was largely explained by economists as a ripple effect of the temporary Market Basket kerfuffle.

"The indications are that the trends are moving in the right direction," said Ronald Walker, secretary of the department. "There are indications that jobless residents who had given up are now feeling more confident about finding a job."

The labor force also grew in January, a sign that people are feeling more confident about their chances of getting a job. Still, Massachusetts has room for more improvement, Nakosteen said.

"We still have a ways to go before we have a real, healthy, tight labor market," he said. "If the trajectory we're on continues even through the rest of the year, and I think there's a good chance it will, I think you'll see that start to turn around."

The unemployment rate also fell 0.2, to 5.1 percent, the lowest the rate has been since May 2008.


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