Thursday, October 15, 2009.
Mass. unemployment hits highest rate since 1976Heartbreaking news today from the Boston Globe: The Massachusetts unemployment rate last month rose to its highest level since the 1970s as employers cut more than 9,000 jobs and work remains scarce.
The jobless rate rose to 9.3 percent in September from 9.1 percent in August, exceeding the percent peak rate of 9.1 percent reached during the deep New England recession of the early 1990s, the Massachusetts Executive Office of Labor and Workforce Development said in a press release.
It is the highest rate since 1976, when the state was recovering from a recession spurred by soaring energy prices following the Arab oil embargo and the collapse of traditional manufacturing industries.
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