Thursday, May 19, 2022

What Is The Unemployment Rate In Massachusetts

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Income And Other Inequalities

Massachusetts Unemployment Rate For July Was Highest In Country

Studies from CDC and others have shown a correlation3 between obesity and poverty. In this Colab notebook , we explore the relation between poverty, unemployment and obesity. Unfortunately, many other medical conditions are inversely correlated with economic well being.

Explore the relation between these variables for counties across the US:

Life expectancy across Europe Life is getting better in Europe, with high life expectancy in addition to decreasing crime. People are living healthier as well and smoking less. However, some economies just have more ups and downs than others. Additionally,fertility rates have come down quite a bit, though not as much as inthese places.

1. RCP 2.6 , represents a stringent mitigation scenario, while RCP 8.5 represents a scenario with very high Greenhouse Gas emissions. Source: IPCC

Environmental health : a global access science source vol. 16,1 32. 4 Apr. 2017, doi:10.1186/s12940-017-0238-0

3. Correlation does not imply causation. See this guide for more on correlation.

Vikings Lose Batting Of Running Games

The Vikings had their destiny in their hands when the Los Angeles Rams kicked off Sundays game at U.S Bank Stadium. Win their next three games and the Vikings would be assured of a playoff spot.

That destiny, however, began to slip away quickly.

After the Vikings went three-and-out on their first series, the Rams drove 70 yards for a 7-0 lead and were never caught in a 30-23 victory. Minnesota hoped to keep the NFLs third-ranked passing offense off the field with a ground game built around backup Alexander Mattison, who had proven capable of filling in for Dalvin Cook on several occasions.

Instead, Minnesotas running game ground to a quick halt, and the Rams were able to live on theirs after Matthew Stafford threw three interceptions in three quarters.

We talked all week about controlling the game with our tempo and being able to run the football, and they ran the ball way better than we did today, Vikings head coach Mike Zimmer said.

L.A.s Sony Michele ran 27 times for 131 yards, and the Rams outrushed the Vikings 159 yards to 66. Still, each team had the ball for exactly 30 minutes.

They have a unique scheme where they use the receiver, the extra guy thats over there, to kind of go, and our guys were jumping out at them instead of playing what they were supposed to play, Zimmer said. So, they ended up getting some big gashes in there.

Eleven of the Rams 22 first downs came on runs. The Vikings ran for first downs five times.

A Profile Of Unemployed Workers In Massachusetts

In part due to the federal governments inadequate pandemic response, Massachusetts took the necessary step in early March of shutting down large swaths of society to gain control over COVIDs spread. The related economic shutdown caused a rapid decline in consumer demand that lasted through the end of summer. Only by early fall has spending returned to pre-pandemic levels, buoyed by retail and grocery sales. Nevertheless, spending at restaurants, entertainment venues and travel remains at least 20 percent below pre-pandemic levels.

With many fewer customers, Massachusetts businessesespecially smaller ones with less flexibility to weather hard timesfound it difficult to justify reopening or retaining their workforce. This all has led to the troubling job cuts weve seen over the last seven months.

Comparing job losses across the most recent recession helps put our states current job losses in context. At the height of the Great Recession, Massachusetts lost around 140,000 jobs relative to its pre-recession employment peak. By contrast, the state lost over 690,000 jobs relative to the states immediate pre-pandemic peak by April 2020almost five times more than at the Great Recessions worst point. Despite some meaningful recovery, on net Massachusetts job losses during the pandemic are still more than two times greater than during the Great Recession.

BLACK AND LATINX WORKERS

WOMEN

LOWER-WAGE WORKERS

WORKERS WITHOUT A COLLEGE DEGREE

YOUNGER AND OLDER WORKERS

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What Is The Unemployment Rate Throughout Massachusetts

Note: Hover over to each county to see its unemployment rate. County data is not available with seasonally-adjusted rates.

Characteristics of Massachusetts’s unemployed population, shown below, are reported by the Census Bureau’s American Community Survey . Unlike the Census, which is an exact count of people and households every ten years, ACS statistics are estimated based on a representative survey sample.

Everything Employers Need To Know About Paying Unemployment Insurance Taxes In Massachusetts

Charting Massachusetts Weekly Unemployment  maxdatabook

By David M. Steingold, Contributing Author

If your small business has employees working in Massachusetts, you’ll need to pay Massachusetts unemployment insurance tax. The UI tax funds unemployment compensation programs for eligible employees. In Massachusetts, state UI tax is just one of several taxes that employers must pay.

Different states have different rules and rates for UI taxes. Here are the basic rules on Massachusetts’s UI tax.

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Eight States Ask For More Time To Pay Back Federal Government For Jobless

Eight states wrote to the federal government Tuesday asking for more time to pay back the interest on loans they took out to pay jobless benefits during the pandemic. States had until Sep. 6 to repay the Treasury Department for money they borrowed to supplement their own unemployment insurance funds.

Morningstar, Inc.

Mass Lawmakers: Fed Ventilator Shipment Grossly Insufficient’

Unemployment in the U.S. hit 25 percent in 1933, but that milestone occurred four years after the 1929 stock market crash, according to the brief, which notes the national unemployment rate didn’t return to the pre-market crash level of 3.2 percent until 1943.

The policy brief did not include an estimate of when employment levels might bounce back, but the researchers observed that other economists have projected that unemployment will not rise as much as Faria-e-Castro estimates. Goldman Sachs forecast a 15 percent rate by mid-2020, according to the report, and St. Louis Federal Reserve President James Bullard forecast “that it will skyrocket to 30 percent, but that the economy will then snap back strongly.”

During the Great Recession, unemployment peaked in Massachusetts at 8.3 percent, according to the report, and state income tax revenues fell from $12.5 billion in fiscal 2008 to $10.1 billion in fiscal 2010. Sales tax revenue declined by 5 percent during that recession, but the closing of non-essential business during the COVID-19 pandemic points to deeper near-term declines in that major revenue source.

The federal law known as the CARES Act, or Coronavirus Aid, Relief and Economic Security Act, is expected to steer $2.67 billion in aid to Massachusetts, and talks are underway about another federal stimulus or relief bill.

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Colorado Joins States Asking Us Treasury For A Break In Repaying Unemployment

Colorado joined seven other states on Tuesday in asking U.S. Treasury Secretary Janet Yellen to stop charging interest on loans to replenish depleted unemployment-insurance coffers an effort that could help employers who ultimately are responsible for repaying that borrowing.

The Business Journals

Sui Tax Rate By State

Massachusetts Unemployment Rate Is Highest In Country

Here is a list of the non-construction new employer tax rates for each state and Washington D.C. . Note that some states require employees to contribute state unemployment tax.

** Some states are still finalizing their SUI tax information for 2021 . For example, Texas will not release 2021 information until June due to COVID-19. We will update this information as the states do.

State

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Best States To Be Unemployed

10. New Jersey

Pct. unemployed receiving benefits: 52.3%

Avg. weekly UI payout: $433

2018 unemployment rate: 4.1%

1-year job growth: -0.2%

New Jersey is the only state in the country where over half of all unemployed residents receive unemployment insurance benefits. The typical UI recipient in the Garden State is paid $433 a week, slightly more than the average payout across all states of $347.

The stronger than average social safety net may be necessary due to the weaker than average job market. Overall employment in New Jersey dropped by 0.2% in the last year making it one of just a handful of states losing jobs. The state’s 2018 unemployment rate of 4.1% is slightly above the comparable 3.9% national rate.

9. Utah

Pct. unemployed receiving benefits: 14.9%

Avg. weekly UI payout: $413

2018 unemployment rate: 3.1%

1-year job growth: +1.7%

The average unemployment insurance recipient in the United States is paid the equivalent of less than a third of the average weekly earnings in UI benefits. In Utah, the average recipient is paid 45.2% of the average weekly wage, the second highest share of any state.

8. Nevada

Pct. unemployed receiving benefits: 26.1%

Avg. weekly UI payout: $348

2018 unemployment rate: 4.6%

1-year job growth: +3.4%

7. Vermont

Pct. unemployed receiving benefits: 34.4%

Avg. weekly UI payout: $347

2018 unemployment rate: 2.7%

1-year job growth: +0.3%

6. Colorado

Pct. unemployed receiving benefits: 18.5%

5. Minnesota

Mass Unemployment Falls To 68% In March Down From 7% In Feb

Unemployment in Massachusetts edged down 0.2 percentage points to 6.8% in March, as the state continues to slowly recover from the business shutdowns that accompanied the pandemic.

The Executive Office of Labor and Workforce Development announced Friday that the state also picked up 12,800 jobs in March, following a gain of 19,700 jobs in February.

But Massachusetts still has a long way to go to recover jobs shed during the pandemic. The federal government estimated that Massachusetts lost 272,700 jobs from March 2020 to March 2021, according to the state.

The downturn was especially severe for restaurants, hotels and similar businesses in the leisure and hospitality sector. With a 24.2% jobless rate in March, the sector lost nearly one in four jobs over the year. But some parts of the economy have seen positive signs since February, when leisure and hospitality grew 4%. In March, that sector grew another 2.2%.

The construction sector is one bright spot, nearly recovering from the impact of COVID-19. Construction added 2,500 jobs in March, with unemployment down just 1% from before the pandemic.

The coronavirus outbreak caused the unemployment rate to skyrocket as high as 16.4% from its low of 2.7% in March 2020, which UMass Amherst economist Rod Motamedi said the was the lowest recorded in Massachusetts since 1976.

Still, Miron said, judging from previous recessions, it could take years for the unemployment rate to return to a sustainable level.

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Media Contact For Massachusetts Unemployment & Job Estimates For June 2021

BOSTONMassachusetts Unemployment & Job Estimates for June

BOSTON, MA The states June total unemployment rate is down one-tenth of a percentage point at 4.9 percent following a revision to the May unemployment rate of 5.0 percent, the Executive Office of Labor and Workforce Development announced Friday. The Bureau of Labor Statistics has revised its model to better capture the effect of the pandemic resulting in revisions to additional earlier calculations. The full revised time series for the Massachusetts unemployment rate estimates can be found here.

The Bureau of Labor Statistics preliminary job estimates indicate Massachusetts gained 9,400 jobs in June. This follows last months gain of 9,200 jobs. Over the month, the private sector added 5,400 jobs as gains occurred across six sectors, led by Leisure and Hospitality and Education and Health Services. Since December 2020, Massachusetts has gained 101,200 jobs.

From June 2020 to June 2021, BLS estimates Massachusetts gained 292,800 jobs. Gains occurred in all sectors led by Leisure and Hospitality and Trade, Transportation and Utilities.

The June unemployment rate was 1.0 percentage point below the national rate of 5.9 percent reported by the Bureau of Labor Statistics.

The labor force increased by 4,900 from 3,702,100 in May, as 8,000 more residents were employed and 3,000 fewer residents were unemployed over the month.

Manufacturing gained 800 jobs over the month. Over the year, 8,500 jobs were added.

NOTES:

Wage Base And Tax Rates

90º Degrees to the Left: For Sale

Massachusetts requires that you pay UI taxes up to a fixed maximum amount of each employee’s wages. That amount, known as the taxable wage base, is $15,000. The amount is subject to change in future years.

The UI tax rate for new employers, which recently has been just above or below 2%, also is subject to change. Established employers are subject to a lower or higher rate than new employers depending on “experience.” This means, among other things, whether your business has ever had any employees who made claims for state unemployment benefits. Established businesses should receive an annual notice from the DUA advising of their UI tax rate for the new year.

Massachusetts has an option for deferring part of the amount due during the first and second quarters of the year. For more information, check the DUA website.

One piece of good news is that state UI tax payments generally can be credited against your federal unemployment taxes.

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Why Is The Unemployment Rate So High In Massachusetts

    Since the beginning of the coronavirus pandemic, Massachusetts has led the way in unemployment with the highest unemployment rate in the country for the month of June, according to new federal data.

    To understand why the state has such a high unemployment rate, its important to consider its pre-pandemic employment rate, says labor economist and Harvard professor Richard Freeman.

    Massachusetts had a higher employment rate, which means we were booming, very strong, lots of jobs, Freeman said. The universities and the tourists were going to come in every year, that was going to give us a boost, we were doing well and then, bang. We got knocked down, clocked.

    New numbers released Thursdayfrom the U.S. Department of Labor, which exclusively look at unemployment insurance claims, puts Massachusetts at 14.5% unemployment still one of the highest rates in the country, but now behind California, Connecticut, Georgia, Hawaii, Louisiana, Nevada, New York and Puerto Rico.

    States with a higher number of jobs have more to lose, Freeman said. South Dakota, which has the lowest unemployment rate 4%, according to the DOL data has a much smaller labor force than the states that top the list.

    Massachusetts has also relied heavily on the entertainment, service, hospitality and education sectors all industries that were heavily affected by the pandemic.

    We had a set of industries where people were interacting with people, Freeman said, and now we’re struggling.

    Once Again Vikings Cant Get Over 500 And It Could Prove Costly In Playoff Race

    Once again, the Vikings couldnt get their record over the .500 mark. And this time they might not recover from it.

    With Sundays 30-23 loss to the Los Angeles Rams at U.S. Bank Stadium, the Vikings dropped to 7-8 after their fourth attempt this season to rise above .500 for the first time since the end of the 2019 season.

    Weve had multiple opportunities to put ourselves in great position, linebacker Anthony Barr said. It just hasnt bounced our way sometimes.

    Now, with two games left in the season, it could be too late.

    The Vikings entered Sunday controlling their own destiny in the No. 7 spot in the NFC playoff race, with seven teams making it. But the loss to the Rams dropped them to No. 9 behind No. 7 Philadelphia , which defeated the New York Giants 34-10 on Sunday, and No. 8 New Orleans , which faces Miami on Monday night.

    Weve still got to win the last two games, Barr said. We cant really worry about scenarios and all that. If we lose, were out, so weve got to go out and win these last two and let the chips fall where they may.

    The Vikings close the regular season with games at Green Bay next Sunday and at home against Chicago on Jan. 9. They could mathematically be eliminated if they lose to the Packers.

    The Vikings havent have been over .500 since they went 10-6 in 2019, and won a playoff game. So Jefferson, in his second pro season, has never been on a Minnesota team that finished with a winning record.

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    Racial Disparities In Unemployment Rates Persist Despite Claims Of A Labor Shortage

    By Kyle K. Moore

    EPI analyzes state unemployment rates by race and ethnicity, and racial/ethnic unemployment rate gaps, on a quarterly basis to generate a sample size large enough to create reliable estimates of unemployment rates by race and ethnicity at the state level. We report estimates only for states for which the sample size of these subgroups is large enough to create an accurate estimate. For this reason, the number of states included in our maps and data tables varies based on the analysis performed. The following analysis contains data on the third quarter of 2021.

    A Chunk Of The Labor Force In Massachusetts Remains Jobless As National Unemployment Is Still Higher Than Before The Pandemic

    Massachusetts unemployment rate dips below 8 percent

    MASSACHUSETTS As the upcoming Labor Day holiday celebrates workers in Massachusetts and across America, many are still finding themselves without a job, even as the coronavirus pandemic nears its year-and-a-half mark.

    The unemployment rate in Massachusetts in July was 4.9 percent, according to the latest state-by-state numbers available from the U.S. Bureau of Labor and Statistics.

    Nationally, the unemployment rate declined by 0.5 percentage points, to 5.4 percent, in July, the labor bureau’s most recent jobs report shows. That month, about 8.7 million Americans were out of work, still much more than the 5.7 million who were unemployed in February 2020.

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    Check Eligibility For Unemployment Benefits

    Most Massachusetts workers are covered by the Unemployment Insurance program, although workers in some jobs may not be eligible for benefits.

    When you apply for Unemployment Insurance , your initial eligibility for benefits is based on your earnings and your reason for leaving your job. Ongoing eligibility requirements include being able to work, available for work, and actively searching for work.

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