.

Curious About Peabody's Unemployment Rate?

The Tanner City has added more than 300 jobs to the local economy over the past year and is right at the average unemployment rate for the North Shore.

The latest jobs data shows Peabody continues to hold steady just below the state unemployment rate.

The figures for November were released late last month and show the Tanner City's jobless rate at 6 percent. Massachusetts' seasonally adjusted rate was at 6.6 percent while nationally the rate was 7.7 percent.

According to state data, Peabody has maintained a lower unemployment rate than the Bay State average for the past 13 months.

Additionally, in 11 of the 12 job sectors for which data is published, the Peabody area has been among the top areas in the state over the past year to add jobs.

The largest gains were in the sectors of Education and Health Services and Service Providers.

On the North Shore, Peabody meets the average unemployment rate while accounting for a significant share of the jobs and the workforce. Both the labor force and number of employed residents is greater than one year ago.

The labor force was at 27,692 last November while there were 26,103 employed residents -- those numbers were at 28,129 and 26,438, respectively, for this past November.

The state office of Labor and Workforce Development captures the North Shore Workforce Investment Area for November (with seasonally unadjusted numbers) in the following chart:

 City or Town  Labor Force Employed Unemployed Rate  Beverly  21,626    20,451    1,175    5.4    Danvers  14,680    13,894    786    5.4    Essex  1,946    1,841    105    5.4    Gloucester  15,824    14,583    1,241    7.8    Hamilton  3,692    3,549    143    3.9    Ipswich  7,383    7,006    377    5.1    Lynn  43,653    40,603    3,050    7.0    Lynnfield  5,782    5,518    264    4.6    Manchester-by-the-Sea  2,716    2,580    136    5.0    Marblehead  11,147    10,634    513    4.6    Middleton  4,132    3,925    207    5.0    Nahant  1,960    1,846    114    5.8    Peabody  28,129    26,438    1,691    6.0    Rockport  3,825    3,549    276    7.2    Salem  24,028    22,629    1,399    5.8    Saugus  14,630    13,765    865    5.9    Swampscott  7,722    7,303    419    5.4    Topsfield  3,013    2,874    139    4.6    Wenham  1,913    1,792    121   6.3

Data for December will be released on Jan. 17 and 22.

Saber Walsh January 03, 2013 at 05:04 PM
Does anybody know if they normalize the data for those who are retired? The poorest and the more affluent communities tend to be towards the top and I wonder if it's because the "labor force" includes those who have retired...

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »