Published October 21, 2010

The AP reports:

The Massachusetts unemployment rate dropped to 8.4 percent last month from 8.8 percent in August, the steepest month-to-month decline since 1976.

That’s the lowest level in 16 months and lower than the nationwide rate of 9.6 percent.

But the Massachusetts economy lost 21,000 jobs in September, probably due to the end of the tourist season.

Twitterer @Rarrarrar reminds us: “that’s a padded rate, only taking into acct. people claiming benefits. There are TONS of people w/o jobs not claiming.”

As I wrote yesterday, the Fed’s Beige Book for New England reports “more of the same” cautious optimism.