Business & Tech
Stoneham Unemployment Rate Declines
From the beginning of the year to August, Stoneham continues to see a decline in its unemployment rate.
From the beginning of the year to August, Stoneham continues to see a decline in its unemployment rate.
According to figures released by the Executive Office of Labor and Workforce Development, Stoneham's unemployment rate was 5.4 percent in June, 5.6 in July and 5.2 percent in August.
The figures likely reflect a seasonal fluctuation in employment numbers, as unemployment rates rose throughout the entire Stoneham area over the summer. One likely reason is the labor force typically grows during the summer due to the addition of out-of-school young people.
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Stoneham falls in the middle of the pack for unemployment rates in the area. Winchester had the lowest unemployment rate at 4 percent.
The highest unemployment rate in the region for August was Chelsea with 8 percent.
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Across the state, the unemployment rate in August was 6.4 percent. In August of 2011 it was 7.2 percent.
Below is a chart of unemployment rates for cities and towns in the Stoneham area:
Town
Aug. 2012
July 2012
June
2012
May 2012
April 2012
March 2012
Feb. 2012
Jan. 2012
Arlington
4.2%
4.4%
4.2%
3.5%
3.5%
3.6%
4.2%
4.3%
Boston
6.6%
6.8%
6.5%
5.7%
5.5%
5.5%
6.6%
7.1%
Cambridge
4.2%
4.4%
4.2%
3.6%
3.4%
3.3%
4.1%
4.3%
Chelsea
8.0%
8.2%
8.2%
7.3%
7.5%
8.7%
10.4%
11.1%
Everett
6.7%
7.0%
6.3%
6%
5.9%*
6.5%
7.6%
7.8%
Lynnfield
4.7%
4.9%
4.6%
4.3%
4.3%
4.2%
5.2%
5%
Malden
5.8%
5.9%
5.7%
5.1%
5.2%
5.4%
6.1%
6.4%
Medford
5.3%
5.5%
5.4%
4.8%
5%
5.2%
6%
6.2%
Melrose
4.7%
4.7%
4.6%
4.2%
4.3%
4.4%
5%
5.2%
Reading
4.3%
4.6%
4.4%
4.1%
4.1%
4.2%
5.2%
5.1%
Revere
6.8%
7.1%
7.0%
6.8%
7%
7.5%
8.6%
8.9%
Saugus
5.8%
6.1%
5.9%
5.4%
5.7%
5.9%
6.9%
7.1%
Somerville
4.3%
4.5%
4.3%
3.8%
3.9%
3.9%
4.8%
5%
Stoneham
5.2%
5.6%
5.4%
5%
5.1%
5.1%
6.1%
6.5%
Wakefield
4.7%
4.9%
4.9%
4.7%
4.8%
5%
6.1%
6%
Winchester
4.0%
4.3%
4.3%
3.9%
4%*
3.8%
4.6%
4.6%
Winthrop
6.3%
6.0%
5.9%
5.8%
5.7%
5.9%
6.6%
7.3%
Woburn
5.4%
5.6%
5.4%
5.1%
5.2%
5.5%
6.6%
6.3%
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