Massachusetts employers have continued to add jobs at a steady pace, giving people who have given up on finding work the confidence to start looking again.
The participation rate — the percentage of working age Bay State residents with a job or actively looking for work — rose 0.3 percent last month to 66.2 percent, the highest that rate has been since June 2010, the state Labor Department said yesterday.
"What this shows is that people who left the labor force during the recession because they couldn't find work are now returning," said Alan Clayton-Matthews, an economist and professor at Northeastern University. "They're coming back into the labor force because they're being successful (at finding a job), they hear that from their friends."
Economists warn against putting too much stock in one month's data, but said the participation rate, which is a full percentage point above where it was a year ago, is clearly trending in the right direction, even in the face of demographic headwinds.
"We're in a period of time now where baby boomers are starting to retire in massive numbers, and that puts a downward pressure on participation rate," Clayton-Matthews said. "The fact that this participation rate is as high as it was in 2010, that's significant."
The state also said employers added 10,700 jobs last month, and the unemployment rate dropped 0.1 percent to 4.8 percent.
"I think it's a very encouraging report, and suggests we've weathered the storms," said Michael Goodman, executive director of the Public Policy Center at the University of Massachusetts Dartmouth. "This latest report is quite strong."
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