The New England unemployment rate was 5.8 percent in July, more than 1 percentage point below the rate recorded during the same month last year, according to the U.S. Bureau of Labor Statistics.

New England’s jobless rate was 7.2 percent in July 2013 and 6.2 percent in June of this year. The Bay State’s unemployment rate was 5.6 percent in July. The national jobless rate for the seventh month was 6.2 percent.

Vermont, New Hampshire and Maine reported jobless rates significantly below the national average at 3.7 percent, 4.4 percent and 5.5 percent, respectively. They were among 18 states in the country to do so.

Rhode Island’s unemployment rate was 7.7 percent in July, tying it with Michigan and Nevada for the third-highest unemployment rate in the nation.

Over the year, all six New England states recorded statistically significant unemployment rate decreases. Rhode Island (-1.9 percentage points) had the largest unemployment rate decline, and Vermont (-0.8 point) had the smallest decline.

New England is one of nine geographic divisions nationwide. In July, the East South Central division had the highest jobless rate at 7.3 percent. The West North Central division again had the lowest unemployment rate at 4.9 percent.

New England Unemployment Rate Drops To 5.8 Percent

by Banker & Tradesman time to read: 1 min
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