Massachusetts’ unemployment rate ticked up slightly in July as the state’s economy continued to slow last month, adding just 1,600 jobs, the Massachusetts Executive Office of Labor and Workforce Development reported Thursday.
The state’s unemployment rate rose to 6.1 percent, from 6 percent in June, the first increase since October 2009. The state jobless rate, however, remains well below the national average, which also rose slightly in July, to 8.3 percent.
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Its no wonder that the Mass unemployment rate as well as the national unemployment rate continue to be high, as firms like State Street Corporation day after day continue to OFF SHORE Massachusetts jobs, they are current liquidating US employment in the John Hancock Tower, Mutual Fund Compliance, and in the six floors above Copley square, Financial Reporting, in their Fund Administration Dept, which employs 750 Bostonians and soon will employ zero if their current CEO Jay Hooley and his "henchman" Allen Greene get their way. It a shame that the BOSTON GLOBE has a business relationship with state Street and the Globe continues to NOT report this story as the future employment options for Massachusetts children are being wiped out.
This could be good news. Usually people who have stopped looking are not counted. But as long as jobs are being added a small uptick in the unemployment rate usually means more people have jumped back into market.