Local Unemployment Rate Continues to Fall

June 21, 2012

The city’s unemployment rate has followed a state trend and plummeted more than 2 percent since January, resulting in a rate of 6.8 percent for Revere in May.

The entire labor force for the city was at 24,730 people in May, and 1,670 were unemployed, resulting in the 6.8 percent rate. The statewide rate for May was 5.8 percent.

The drop over the past few months followed a persistently high rate in the in the 8 percent range for the past year, which climaxed at 8.9 percent in January 2012.

The free fall began in March when the unemployment number dropped more than 1 percent, and then continued to go lower in April and May.

The released numbers, however, were unadjusted for seasonal trends. However, they were still down significantly compared to the same time last year.

The State Executive Office of Labor and Workforce Development indicated on Tuesday that job gains have been strongest in the Boston and Peabody market areas since the beginning of the year.

It reported that six of 10 private sector industries added jobs in May, with professional, scientific and business services showing the highest gains.

The May figures for Chelsea were 7.3 percent; Everett was 6 percent; and Lynn was 7.1 percent.

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