United States Congress Joint Economic Committee

Massachusetts

June 2024

Select a State
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
May Employment Update
Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
Massachusetts Unemployment (U-3) 3.7% 3.5% 3.9%
U.S. Official Rate (U-3) 3.7% 3.7% 3.4%
U.S. "Real" Rate (U-6) 7.0% 7.1% 6.7%
Massachusetts Labor Force Participation Rate 65.0% 64.8% 65.4%
U.S. Labor Force Participation Rate 62.5% 62.7% 62.6%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 3.4% 3.1% 6.5%
"Core" CPI Inflation 3.9% 4.0% 5.7%
National Gas/gal. Updated 6/29/24 12:00 AM $3.50 $3.58 $3.55
Massachusetts Gas/gal. $3.46 $3.53 $3.55
Northeast Region: Loaf of Bread $2.06 $2.06 $1.80
Northeast Region: Ground Beef/lb. $3.85 $3.74 $4.16
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q4/2023 (3rd Estimate)
3.4%
MA Real GDP
Q4/2023
3.0%
S&P 500 (YTD)
0.29% Updated 1/16/24 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
MA Hourly Rate
$14.25
Last Generated: 6/30/24 5:15 AM