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i was informed that when my comp in mass ends my employer will be laying me off due to the economy. when this happens will i be able to apply for mass unemployment. if so do they use my original hours and pay that comp used to figure out my payment?

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yes you can apply for unemployment.
unemployment uses a different method to calculate payments; it's based on how much you have paid into the system during recent quarters.
more here
http://www.mass.gov/portal/jobs-educatio...insurance/