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Finding jobs in Boston, Massachusetts may be easier that securing employment elsewhere in the state, but unemployment in the area is still on the rise. Recent data shows that 4.8 percent of residents were without work for the month of September, according to the state’s Executive Office of Labor and Workforce Development. During the same month last year only 4 percent of Bostonians were without jobs. Massachusetts unemployment rate is currently 5.3 percent.

Although the Boston job market is still fairing better than most of the nation, this may soon change. Until recently many experts believed that Massachusetts would withstand failing into a recession like many areas of the nation already have; now economist believe that the state is already in or on the verge of being in the danger zone. According to the University of Massachusetts, if the area isn’t already suffering to this degree than it will be within the next six months.

The final straw seems to have been the bevy of woes at Wall Street. So far, the results of these problems have yet to have register in unemployment statistics, but experts believe that jobs in Boston and elsewhere are already feeling the effects.

“The effects of the financial crisis are coming home to Boston,” said Arthur Jones, who is a senior economist at Torto Wheaton Research in Boston. “The expansionary period where we outperformed the US is probably coming to an end.”

Nationally, many industries are suffering such as the financial sector, manufacturing and construction. Healthcare continues to be one shinning spot in an otherwise bleak economy, which means that those looking for jobs in Boston may want to look into this area of employment. Jobs exists for those who aren’t trained to assist patients in a medical sense. Even administrative positions in this industry are more secure than those in other sectors.

Despite all the economic problems, some remain positive about the outcome for the Boston job market.

“It may take a couple of years to come back up, but it’s going to come back,” said Representative William Galvin. “Things will get better.”

This entry was posted on Monday, October 27th, 2008 at 1:22 am and is filed under job search. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.