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City’s unemployment rate is lowest in 15 years

City’s unemployment rate is lowest in 15 years

METRO WEST DAILY NEWS – The city’s unemployment rate dipped to 2.7 percent in September, the lowest mark in more than 15 years.

The number of out of work Marlborough residents has steadily declined in recent months and that trend continued in September, as the unemployment rate dropped from 3.2 percent in August to 2.7 percent, according to recently released data from the Massachusetts Executive Office of Labor and Workforce Development. The unemployment rate in July was 4 percent.

September’s 2.7 percent jobless rate is the lowest the city has seen since May 2001. The new rate marks a 33 percent drop from the same time last year and a 50 percent decrease since September 2012.

“It was one of my goals when I started (as mayor) in 2012,” Mayor Arthur Vigeant said of reducing the unemployment rate. “We worked really hard on it.”

The state unemployment rate in September was 3.6 percent, while the national level was 5 percent.

The mayor credited the Marlborough Economic Development Corporation (MEDC) and city officials’ efforts to attract corporations, including GE Healthcare Life Sciences, Quest Diagnostics and SanDisk, to the city recently and initiatives, such as the Marlborough Works! Job Fair.

“We’ve been able to attract the jobs,” said Vigeant.

Efforts to get residents back to work remain ongoing, the mayor said. Vigeant said city officials are not only focusing on bringing more new businesses, but keeping companies that have moved to the city recently.

“When they grow and expand we want them to do that here,” he said.

Meredith Harris, executive director of the MEDC, said the decreasing unemployment and commercial vacancy rates show Marlborough has a strong local economy.

“We’re very well positioned for growth and future success,” said Harris.

Along with the Marlborough Works! Job Fair, which attracted more than 200 job seekers last week, city officials are hoping to team up with Partnerships for a Skilled Workforce to host another job fair in the spring. Vigeant envisions that fair will focus on more entry-level positions. The city has also held resume and Linkedin workshops.

“We want to keep the momentum going,” said Vigeant.

This article by Jeff Malachowski originally appeared here.