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By Jay Fitzgerald Friday, July 25, 2008 - Updated 4m ago The number of people applying for and getting unemployment insurance is soaring in Massachusetts, indicating a further erosion in the state’s job market. Initial unemployment insurance claims jumped last month by 13 percent over last year, to about 38,600. The most recent weekly figures for the total number of people receiving jobless insurance in Massachusetts also show an approximate 14 percent increase over the same period last year. The state’s numbers mirror a U.S. Department of Labor report yesterday that unemployment insurance claims nationwide increased to 406,000 last week, up by 34,000. Economists had expected claims to jump to only about 375,000. “It’s certainly not good news,” said Michael Goodman, director of research at the University of Massachusetts’... [read full story]
