The New England unemployment rate dipped below 5 percent in May, hitting 4.9 percent, the U.S. Bureau of Labor Statistics reported yesterday.

The region’s unemployment rate was 1.1 percent below its May 2014 rate of 6 percent and largely unchanged from its April rate of 5 percent. The national unemployment rate in May was 5.5 percent.

Four of the six New England states in May reported jobless rates well below the national rate, including Massachusetts (4.6 percent), Vermont (3.6 percent), New Hampshire (3.8 percent) and Maine (4.7 percent).

Rhode Island had the largest jobless rate decline among the 24 states nationwide that reported significant rate decreases from May 2014. The state’s jobless rate dropped to 5.9 percent in May compared with 7.9 percent one year ago.

Nationally, the Pacific division had the highest jobless rate in May at 6.1 percent. The West North Central division had the lowest unemployment rate at 4.3 percent.

New England Unemployment Rate Drops Under 5 Percent

by Banker & Tradesman time to read: 1 min
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