In an era of economic uncertainty, the U.S. job market remains resilient. After falling to 3.7% in November 2023, the national unemployment rate has been below 4% for 22 consecutive months, the longest streak in over 50 years.
Of course, if history is any guide, much of the economy is subject to boom and bust cycles — and the job market is no exception. Since the mid-1970s, the average annual unemployment rate in the U.S. has fluctuated between 3.6% and nearly 10%, according to the Bureau of Labor Statistics.
These same cyclical patterns are also evident in Massachusetts, where the job market is supported largely by the professional and scientific and retail trade industries. The annual unemployment rate in the state was 3.8% in 2022, slightly higher than the state’s lowest annual jobless rate on record of 2.7%. However, conditions for job seekers have not always been so favorable.
According to historical BLS data going back to 1976, the annual jobless rate has been as high as 9.6% in Massachusetts. More than once, unemployment in the state has either matched or come close to that peak.
This is how Massachusetts’s job market has changed in each of the last 47 years.
1976: 9.6% unemployment
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- Avg. unemployment rate: 9.6% (7.7% nationwide)
- Labor force participation rate: 64.8% (61.6% nationwide)
- Unemployed population in Massachusetts: 266,593
1977: 7.8% unemployment
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- Avg. unemployment rate: 7.8% (7.1% nationwide)
- Labor force participation rate: 64.7% (62.3% nationwide)
- Unemployed population in Massachusetts: 216,300
1978: 6.2% unemployment
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- Avg. unemployment rate: 6.2% (6.1% nationwide)
- Labor force participation rate: 65.5% (63.2% nationwide)
- Unemployed population in Massachusetts: 173,340
1979: 5.5% unemployment
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- Avg. unemployment rate: 5.5% (5.8% nationwide)
- Labor force participation rate: 65.8% (63.7% nationwide)
- Unemployed population in Massachusetts: 156,567
1980: 5.6% unemployment
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- Avg. unemployment rate: 5.6% (7.1% nationwide)
- Labor force participation rate: 65.6% (63.8% nationwide)
- Unemployed population in Massachusetts: 165,319
1981: 6.5% unemployment
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- Avg. unemployment rate: 6.5% (7.6% nationwide)
- Labor force participation rate: 66.7% (63.9% nationwide)
- Unemployed population in Massachusetts: 188,679
1982: 7.7% unemployment
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- Avg. unemployment rate: 7.7% (9.7% nationwide)
- Labor force participation rate: 67.1% (64.0% nationwide)
- Unemployed population in Massachusetts: 232,237
1983: 6.8% unemployment
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- Avg. unemployment rate: 6.8% (9.6% nationwide)
- Labor force participation rate: 66.6% (64.0% nationwide)
- Unemployed population in Massachusetts: 206,331
1984: 4.8% unemployment
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- Avg. unemployment rate: 4.8% (7.5% nationwide)
- Labor force participation rate: 67.5% (64.4% nationwide)
- Unemployed population in Massachusetts: 145,357
1985: 4.0% unemployment
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- Avg. unemployment rate: 4.0% (7.2% nationwide)
- Labor force participation rate: 67.3% (64.8% nationwide)
- Unemployed population in Massachusetts: 126,151
1986: 3.9% unemployment
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- Avg. unemployment rate: 3.9% (7.0% nationwide)
- Labor force participation rate: 67.2% (65.3% nationwide)
- Unemployed population in Massachusetts: 122,238
1987: 3.2% unemployment
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- Avg. unemployment rate: 3.2% (6.2% nationwide)
- Labor force participation rate: 67.6% (65.6% nationwide)
- Unemployed population in Massachusetts: 104,458
1988: 3.3% unemployment
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- Avg. unemployment rate: 3.3% (5.5% nationwide)
- Labor force participation rate: 68.4% (65.9% nationwide)
- Unemployed population in Massachusetts: 104,033
1989: 4.2% unemployment
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- Avg. unemployment rate: 4.2% (5.3% nationwide)
- Labor force participation rate: 69.0% (66.5% nationwide)
- Unemployed population in Massachusetts: 134,562
1990: 6.3% unemployment
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- Avg. unemployment rate: 6.3% (5.6% nationwide)
- Labor force participation rate: 68.6% (66.5% nationwide)
- Unemployed population in Massachusetts: 205,825
1991: 8.6% unemployment
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- Avg. unemployment rate: 8.6% (6.8% nationwide)
- Labor force participation rate: 67.8% (66.2% nationwide)
- Unemployed population in Massachusetts: 281,802
1992: 8.5% unemployment
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- Avg. unemployment rate: 8.5% (7.5% nationwide)
- Labor force participation rate: 68.0% (66.4% nationwide)
- Unemployed population in Massachusetts: 280,003
1993: 7.0% unemployment
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- Avg. unemployment rate: 7.0% (6.9% nationwide)
- Labor force participation rate: 67.9% (66.3% nationwide)
- Unemployed population in Massachusetts: 232,197
1994: 6.0% unemployment
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- Avg. unemployment rate: 6.0% (6.1% nationwide)
- Labor force participation rate: 67.8% (66.6% nationwide)
- Unemployed population in Massachusetts: 199,658
1995: 5.3% unemployment
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- Avg. unemployment rate: 5.3% (5.6% nationwide)
- Labor force participation rate: 67.5% (66.6% nationwide)
- Unemployed population in Massachusetts: 174,881
1996: 4.4% unemployment
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- Avg. unemployment rate: 4.4% (5.4% nationwide)
- Labor force participation rate: 67.7% (66.8% nationwide)
- Unemployed population in Massachusetts: 149,442
1997: 3.9% unemployment
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- Avg. unemployment rate: 3.9% (4.9% nationwide)
- Labor force participation rate: 68.6% (67.1% nationwide)
- Unemployed population in Massachusetts: 134,057
1998: 3.3% unemployment
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- Avg. unemployment rate: 3.3% (4.5% nationwide)
- Labor force participation rate: 68.6% (67.1% nationwide)
- Unemployed population in Massachusetts: 112,652
1999: 3.2% unemployment
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- Avg. unemployment rate: 3.2% (4.2% nationwide)
- Labor force participation rate: 68.6% (67.1% nationwide)
- Unemployed population in Massachusetts: 110,779
2000: 2.7% unemployment
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- Avg. unemployment rate: 2.7% (4.0% nationwide)
- Labor force participation rate: 67.8% (67.1% nationwide)
- Unemployed population in Massachusetts: 94,210
2001: 3.7% unemployment
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- Avg. unemployment rate: 3.7% (4.7% nationwide)
- Labor force participation rate: 68.1% (66.8% nationwide)
- Unemployed population in Massachusetts: 128,540
2002: 5.3% unemployment
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- Avg. unemployment rate: 5.3% (5.8% nationwide)
- Labor force participation rate: 68.7% (66.6% nationwide)
- Unemployed population in Massachusetts: 179,347
2003: 5.7% unemployment
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- Avg. unemployment rate: 5.7% (6.0% nationwide)
- Labor force participation rate: 68.0% (66.2% nationwide)
- Unemployed population in Massachusetts: 195,695
2004: 5.1% unemployment
Source: FilippoBacci / E+ via Getty Images
- Avg. unemployment rate: 5.1% (5.5% nationwide)
- Labor force participation rate: 67.4% (66.0% nationwide)
- Unemployed population in Massachusetts: 173,839
2005: 4.8% unemployment
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- Avg. unemployment rate: 4.8% (5.1% nationwide)
- Labor force participation rate: 66.9% (66.0% nationwide)
- Unemployed population in Massachusetts: 162,583
2006: 4.9% unemployment
Source: Sean Pavone / iStock via Getty Images
- Avg. unemployment rate: 4.9% (4.6% nationwide)
- Labor force participation rate: 67.0% (66.2% nationwide)
- Unemployed population in Massachusetts: 160,659
2007: 4.6% unemployment
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- Avg. unemployment rate: 4.6% (4.6% nationwide)
- Labor force participation rate: 66.9% (66.0% nationwide)
- Unemployed population in Massachusetts: 155,327
2008: 5.5% unemployment
Source: Lucrezia Ciampa / iStock via Getty Images
- Avg. unemployment rate: 5.5% (5.8% nationwide)
- Labor force participation rate: 66.9% (66.0% nationwide)
- Unemployed population in Massachusetts: 183,607
2009: 8.1% unemployment
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- Avg. unemployment rate: 8.1% (9.3% nationwide)
- Labor force participation rate: 66.3% (65.4% nationwide)
- Unemployed population in Massachusetts: 280,925
2010: 8.3% unemployment
Source: Sean Pavone / iStock via Getty Images
- Avg. unemployment rate: 8.3% (9.6% nationwide)
- Labor force participation rate: 66.2% (64.7% nationwide)
- Unemployed population in Massachusetts: 280,687
2011: 7.3% unemployment
Source: RodrigoBlanco / iStock via Getty Images
- Avg. unemployment rate: 7.3% (8.9% nationwide)
- Labor force participation rate: 65.8% (64.1% nationwide)
- Unemployed population in Massachusetts: 251,677
2012: 6.7% unemployment
Source: FilippoBacci / E+ via Getty Images
- Avg. unemployment rate: 6.7% (8.1% nationwide)
- Labor force participation rate: 65.5% (63.7% nationwide)
- Unemployed population in Massachusetts: 235,201
2013: 6.7% unemployment
Source: sphraner / iStock via Getty Images
- Avg. unemployment rate: 6.7% (7.4% nationwide)
- Labor force participation rate: 65.0% (63.2% nationwide)
- Unemployed population in Massachusetts: 233,545
2014: 5.7% unemployment
Source: Sean Pavone / iStock via Getty Images
- Avg. unemployment rate: 5.7% (6.2% nationwide)
- Labor force participation rate: 65.4% (62.9% nationwide)
- Unemployed population in Massachusetts: 204,704
2015: 4.8% unemployment
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- Avg. unemployment rate: 4.8% (5.3% nationwide)
- Labor force participation rate: 65.2% (62.7% nationwide)
- Unemployed population in Massachusetts: 172,113
2016: 3.9% unemployment
Source: Lucrezia Ciampa / iStock via Getty Images
- Avg. unemployment rate: 3.9% (4.9% nationwide)
- Labor force participation rate: 65.3% (62.8% nationwide)
- Unemployed population in Massachusetts: 145,171
2017: 3.7% unemployment
Source: Jay_Yuan / iStock Editorial via Getty Images
- Avg. unemployment rate: 3.7% (4.4% nationwide)
- Labor force participation rate: 65.9% (62.9% nationwide)
- Unemployed population in Massachusetts: 142,131
2018: 3.4% unemployment
Source: Sean Pavone / iStock via Getty Images
- Avg. unemployment rate: 3.4% (3.9% nationwide)
- Labor force participation rate: 67.1% (62.9% nationwide)
- Unemployed population in Massachusetts: 132,571
2019: 2.9% unemployment
Source: RodrigoBlanco / iStock via Getty Images
- Avg. unemployment rate: 2.9% (3.7% nationwide)
- Labor force participation rate: 67.1% (63.1% nationwide)
- Unemployed population in Massachusetts: 116,181
2020: 8.9% unemployment
Source: FilippoBacci / E+ via Getty Images
- Avg. unemployment rate: 8.9% (8.1% nationwide)
- Labor force participation rate: 65.3% (61.7% nationwide)
- Unemployed population in Massachusetts: 350,774
2021: 5.7% unemployment
Source: sphraner / iStock via Getty Images
- Avg. unemployment rate: 5.7% (5.3% nationwide)
- Labor force participation rate: 65.1% (61.7% nationwide)
- Unemployed population in Massachusetts: 207,291
2022: 3.8% unemployment
Source: Sean Pavone / iStock via Getty Images
- Avg. unemployment rate: 3.8% (3.6% nationwide)
- Labor force participation rate: 65.1% (62.2% nationwide)
- Unemployed population in Massachusetts: 140,752
Source: 24/7 Wall St.
| Year | Massachusetts unemployment rate | U.S. unemployment rate | Unemployed population in Massachusetts |
|---|---|---|---|
| 1976 | 9.6 | 7.7 | 266,593 |
| 1977 | 7.8 | 7.1 | 216,300 |
| 1978 | 6.2 | 6.1 | 173,340 |
| 1979 | 5.5 | 5.8 | 156,567 |
| 1980 | 5.6 | 7.1 | 165,319 |
| 1981 | 6.5 | 7.6 | 188,679 |
| 1982 | 7.7 | 9.7 | 232,237 |
| 1983 | 6.8 | 9.6 | 206,331 |
| 1984 | 4.8 | 7.5 | 145,357 |
| 1985 | 4.0 | 7.2 | 126,151 |
| 1986 | 3.9 | 7.0 | 122,238 |
| 1987 | 3.2 | 6.2 | 104,458 |
| 1988 | 3.3 | 5.5 | 104,033 |
| 1989 | 4.2 | 5.3 | 134,562 |
| 1990 | 6.3 | 5.6 | 205,825 |
| 1991 | 8.6 | 6.8 | 281,802 |
| 1992 | 8.5 | 7.5 | 280,003 |
| 1993 | 7.0 | 6.9 | 232,197 |
| 1994 | 6.0 | 6.1 | 199,658 |
| 1995 | 5.3 | 5.6 | 174,881 |
| 1996 | 4.4 | 5.4 | 149,442 |
| 1997 | 3.9 | 4.9 | 134,057 |
| 1998 | 3.3 | 4.5 | 112,652 |
| 1999 | 3.2 | 4.2 | 110,779 |
| 2000 | 2.7 | 4.0 | 94,210 |
| 2001 | 3.7 | 4.7 | 128,540 |
| 2002 | 5.3 | 5.8 | 179,347 |
| 2003 | 5.7 | 6.0 | 195,695 |
| 2004 | 5.1 | 5.5 | 173,839 |
| 2005 | 4.8 | 5.1 | 162,583 |
| 2006 | 4.9 | 4.6 | 160,659 |
| 2007 | 4.6 | 4.6 | 155,327 |
| 2008 | 5.5 | 5.8 | 183,607 |
| 2009 | 8.1 | 9.3 | 280,925 |
| 2010 | 8.3 | 9.6 | 280,687 |
| 2011 | 7.3 | 8.9 | 251,677 |
| 2012 | 6.7 | 8.1 | 235,201 |
| 2013 | 6.7 | 7.4 | 233,545 |
| 2014 | 5.7 | 6.2 | 204,704 |
| 2015 | 4.8 | 5.3 | 172,113 |
| 2016 | 3.9 | 4.9 | 145,171 |
| 2017 | 3.7 | 4.4 | 142,131 |
| 2018 | 3.4 | 3.9 | 132,571 |
| 2019 | 2.9 | 3.7 | 116,181 |
| 2020 | 8.9 | 8.1 | 350,774 |
| 2021 | 5.7 | 5.3 | 207,291 |
| 2022 | 3.8 | 3.6 | 140,752 |
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