Massachusetts Unemployment Rate Falls For Fourth Straight Month

Boston MA

20 November, 2020

10:33 AM

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MASSACHUSETTS — The state's unemployment rate was 7.4 percent in October, down from 9.6 percent in September. Massachusetts was one of 37 states to see its unemployment rate drop in October, according to a report released Friday by the U.S. Bureau of Labor Statistics. It was the fourth straight month the state's unemployment rate has declined since peaking at 17.7 percent in June. Despite the improvements, the unemployment rate in Massachusetts in October 2020 was well above the 2.8 percent reported in October 2019. And the state's unemployment rate was still among the 10 highest in the nation. Economic historians say the peak unemployment rate in Massachusetts came during the Great Depression in 1934, when it hit 25 percent. During the Great Recession that started in December 2007, Massachusetts' unemployment topped out at 8.3 percent. Dave Copeland writes for Patch and can be reached at [email protected] or by calling 617-433-7851. Follow him on Twitter (@CopeWrites) and Facebook (/copewrites).