Federal Reserve Chairman Ben Bernanke told Congress yesterday that the economic downturn appears to be ‘abating’, but in Southborough unemployment is still sharply on the rise.
The Southborough unemployment rate hit 6.8% in June. That’s the highest jobless rate in town since January 1992 when it was 6.6%. Since January of this year, the unemployment rate has risen by 42%.
But even at current levels, the unemployment rate in Southborough is still lower than both the statewide (8.7%) and national (9.7%) rate for the month of June.