Boston Area Economic Summary - Bureau of Labor Statistics

Boston, MA-NH, Area Economic Summary

Updated November 02, 2022

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.

Unemployment rates for the nation and selected areas

Unemployment rates

Average weekly wages for all industries by county

Boston area, first quarter 2022 (U.S. = $1,374; Area = $2,009)

United States

4.6 3.3

Boston area

4.7 2.9

Boston city, MA

5.3 3.0

Cambridge city, MA

3.4 2.2

Newton city, MA

3.6 2.4

Quincy city, MA

5.2 3.2

0.0

2.0

4.0

6.0

Sep-21 Sep-22 Source: U.S. BLS, Local Area Unemployment Statistics.

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

12-month percent changes in employment 15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

-20.0 Sep-19

Sep-20

Sep-21

Sep-22

Boston area

United States

Source: U.S. BLS, Current Employment Statistics.

Boston area employment (number in thousands)

Change from Sep. Sep. 2022 2021 to Sep. 2022

Number Percent

Total nonfarm

2,813.5 122.7

4.6

Mining, logging, and construction

136.0

8.9

7.0

Ma nufa cturi ng

185.9

7.6

4.3

Trade, transportation, and utilities

412.0

16.7

4.2

I nforma ti on

87.7

6.1

7.5

Financial activities

179.1

-1.8

-1.0

Professional and business services

548.8

33.1

6.4

Education and health services

611.6

29.0

5.0

Leisure and hospitality

260.8

27.0

11.5

Other services

94.0

2.0

2.2

Government

297.6

-5.9

-1.9

Source: U.S. BLS, Current Employment Statistics.

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, September 2022

35.0

31.0

30.0

25.0 19.8

20.0

15.0

10.0

8.1 8.2

12.2 11.2

5.0

0.0

All items Boston area

Food

Energy

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

12-month percent changes in PPI

35.0 30.0 25.0 20.0 15.0 10.0

5.0 0.0 -5.0 -10.0 -15.0

Sep-19

Sep-20

Sep-21

General freight trucking

Sep-22

Hospitals

Security, commodity contracts and like activity

Source: U.S. BLS, Producer Price Index.

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and

Boston area, 2020-21

100% 80% 60% 40%

$20,283 $11,752 $6,922 $11,156 $9,611

$11,062 $7,562 $5,316 $7,803 $10,398

20%

$30,999

$22,046

0%

Boston area

United States

All other items

Personal insurance & pensions

Healthcare

Food

Transportation

Housing

Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Boston area

United States

$36.95 $28.01

Lawyers

82.53 71.17

General and operations managers

71.94 55.41

Biochemists and biophysicists

64.94 54.55

Management analysts

56.91 48.33

Registered nurses

48.05 39.78

Accountants and auditors

45.15 40.37

Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2021.

Employer costs per hour worked for wages and selected employee benefits by geographic division

Private industry,

New England United

June 2022

(1)

States

Total compensation

$43.26 $38.91

Wages and salaries

29.97

27.44

Total benefits

13.29

11.47

Paid leave

3.35

2.87

Vacation

1.71

1.47

Supplemental pay

1.88

1.37

Insurance

3.33

2.96

Retirement and savings

1.50

1.33

Legally required benefits

3.23

2.93

(1) The states that compose the New England census division are: CT, ME, MA, NH, RI, and VT. Source: U.S. BLS, Employer Costs for Employee Compensation.

Over-the-year changes in wages and salaries

12-month percent changes in ECI

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Sep-19

Sep-20 Boston area

Source: U.S. BLS, Employment Cost Index.

Sep-21 United States

Sep-22

New England Information Office ? BLSinfoBoston@ ? ? 617-565-2327

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