Massachusetts anemic jobs recovery continues. According to the Department of Labor and Workforce Development the Commonwealth lost 4800 jobs in August.
The Executive Office of Labor and Workforce Development today reported that the Bureau of Labor Statistics' preliminary August 2012 estimates show that Massachusetts lost 4,800 jobs over the month, for a total of 3,243,200 jobs. The August job loss follows a revised gain of 300 jobs in July.
The total unemployment rate inched up from 6.1 percent in July to 6.3 percent in August. The unemployment rate is down 1.1 percentage points from the August 2011 rate of 7.4 percent. The three-month average seasonally adjusted total unemployment rate was 6.1 percent and the six-month average was 6.2 percent.
Year to date jobs are up 31,400 with private sector jobs up 29,900. Professional, Scientific, and Business Services and Trade, Transportation, and Utilities show the largest gains.
One possible explanation? Fidelity has been moving forward with relocating jobs out of Massachusetts. Multiple acquaintances of mine have relocated out of state during August to other states to follow their jobs, including as far away as Texas.