Massachusetts Sheds 4,600 Jobs in July as Unemployment Holds at 4.4%

1 articles · Updated · The Boston Globe · Aug 21

Massachusetts employers cut 4,600 jobs in July, wiping out much of June’s revised 6,000-job gain and leaving the state labor market largely stalled.
The 4.4% unemployment rate was unchanged, but hiring remained weak even as layoffs stayed low, reflecting a broader low-hire, low-fire pattern.
Over the past 12 months, total employment rose by just 5,800 jobs—less than 0.2%—and excluding health care and private education, the state lost 6,800 jobs.
The labor force shrank by 2,700 from a year earlier, a decline tied to retirements and lower immigration, though the prime-age workforce still expanded.
Massachusetts still trails the nation’s 4.1% jobless rate and has lagged many states in job creation, with weak new business formation cited as a drag on growth.