WORCESTER BUSINESS JOURNAL – What a difference three years can make.
Marlborough’s recent corporate arrivals appear to have done their part at curbing the city’s unemployment rate since the summer of 2012, according to the Marlborough Economic Development Corporation (MEDC).
Three years and 6,000 jobs later…
On Wednesday, the MEDC touted the city’s employment gains since August 2012. Marlborough has added 6,000 new jobs, 5,000 of which have come from companies moving in and expanding. The remaining 1,000 new jobs are attributed to organic growth, according to MEDC.
Three years ago in August, Marlborough, one of the largest employment centers in MetroWest, had an unemployment rate of 5.7 percent. Today, it has fallen to 3.7 percent, which almost a full percentage point below the state average. The city’s employed labor force has grown to 22,739, compared to 21,759 in August 2012.The jobs figures are derived from the Executive Office of Labor and Workforce Development.
MEDC highlighted the latest numbers ahead of a series of events aimed at connecting the local workforce with companies that are hiring. The Marlborough Works! Initiative, which launched in June 2012, kicked off Wednesday night with a resume development workshop at the Embassy Suites Hotel in Marlborough. Upcoming events include a networking and marketing workshop on Oct. 15, and a job fair on Oct. 27 at the Courtyard Marriott-Marlborough. Major local employers to participate include GE Healthcare, Quest Diagnostics, SanDisk, Boston Scientific and the TJX Cos.
The regional picture
Marlborough’s unemployment rate in August was 17-percent lower than the state rate of 4.5 percent.
Other large employment centers in MetroWest enjoyed similarly low rates. Framingham, which is home to the region’s largest workforce of about 40,000, had an unemployment rate of 3.4 percent in August. Milford’s rate stood at 4.2 percent; Shrewsbury’s rate was 3.5 percent; Westborough’s stood at 3.4 percent; and Natick’s rate was 3.1 percent.
MetroWest towns with unemployment rates that exceeded the state average in August included Hudson, at 4.7 percent, and Ayer, at 5 percent.