California unemployment: California unemployment rate rises to 12.4%
I do hope our legislature is taking notice of these trends. Our new executive whoever that may be will need cooperation like we have not seen since the 1960’s.
SNIP
California employers eliminated 33,500 jobs in August as the state unemployment rate rose to 12.4%.California’s deeply troubled labor market took another hit in August as employers laid off more workers than expected, renewing fears that the state’s economic recovery has stalled. California’s deeply troubled labor market took another hit in August as employers laid off more workers than expected, renewing fears that the state’s economic recovery has stalled.
Employers cut 33,500 jobs, marking the third straight month of losses and pushing the state’s unemployment rate to 12.4%, up from 12.3% in July, according to data released Friday by the Employment Development Department. California has lost 113,100 jobs since August 2009.”The thing that is disconcerting is that we have lost jobs in virtually every industry,” said Sung Won Sohn, an economist and UC Channel Islands professor. “At this stage of an economic recovery, we should be doing much better.”