Massachusetts Unemployment Rate Rises To 7.2%
The unemployment rate in Massachusetts has climbed to the highest level in almost two years.
The Massachusetts economy added just 300 jobs in July, according to a report from the Executive Office of Labor and Workforce Development. The unemployment rate rose to 7.2 percent from 7 percent in June. Robert Nakosteen, an economist at the UMass Isenberg School, said the dismal job numbers are further evidence of an economic slowdown that he blames on federal budget cuts and higher taxes that took effect at the beginning of the year.
The state report Thursday said revised estimates show Massachusetts lost 2,100 jobs in June, instead of the 2,800 gain initially reported.