Mass. Unemployment rate down to 4.4% – net job created in March

Per a press release today in the Boston Business Journal, continued positive Mass news:

“The unemployment rate in Massachusetts remained steady in March.

Figures released Wednesday by the state’s Office of Labor and Workforce Development revealed that 2,900 new jobs were added in Mass. in March, its largest monthly increase since November of last year and the sixth consecutive monthly increase in jobs.

The Mass. unemployment rate was 4.4 percent. Revisions to the February rate, published last month on a preliminary basis at 4.5 percent, show the rate edging down to 4.4 percent and an increase of 700 jobs instead of the loss of 700 as originally estimated, officials said. ”

The local rate outperformed the national rate, which increased from 4.8 percent in February to 5.1 percent in March. The Mass. rate has been below the U.S. rate since June 2007. Over the year, the Bay State’s unemployment rate dropped two tenths of a percentage point from 4.6 percent.

The largest job gains in March were recorded in professional, scientific, and business services and leisure and hospitality. New jobs were also added in the trade, transportation and utilities, information, construction and manufacturing super sectors, according to state officials. ”

So, although we hear a lot of noise about some companies being a bit more cautious, overall, we are see a very robust market. One of the big lessons learned from the past recession/weak period of 2001-2003 was that many firms were very quick to stop growing/investing in their software engineers, and this has led to a continued short supply of top talent software engineers in Mass.

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