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Mass. Unemployment Rate Drops To 8.4 Percent

Oct 21, 2010 | Reprints | Unlock Link | Print

The Massachusetts unemployment rate dropped to 8.4 percent last month from 8.8 percent in August, the steepest month-to-month decline since 1976.

The Executive Office of Labor and Workforce Development announced Thursday that the state’s unemployment rate fell to its lowest level in 16 months and remains below the national average of 9.6 percent.

The economy lost nearly 21,000 jobs, mostly in the lodging and food service sectors, probably because of the end of the summer tourist season. Secretary Joanne Goldstein called it "a normal seasonal adjustment."

The financial services sector, including insurance and real estate, showed the strongest gains with about 1,300 new jobs. The information and professional, scientific and business services sectors also added jobs. (AP)

Executive Briefing