California’s unemployment rate rose to 11.9 percent in July, the state Employment Development Department announced August 21.
The United States unemployment rate fell to 9.4 percent in July.
In June, the state’s unemployment rate was 11.6 percent. In July of last year, the unemployment rate was 7.3 percent.
Gov. Arnold Schwarzenegger said this:
“These numbers indicate that we must do everything possible to get California moving forward again. We must fix what is broken in this state – whether it is our water infrastructure, our prisons and pensions systems or updating our tax structure – these are the critical issues that need to be addressed to rebuild the Golden State. These reforms along with our on-going efforts to jumpstart the economy and put Californians back to work will ensure that our state is on a direct path to recovery.”
Look for more for double-digit billions budget bad news when the state conducts its next revenue forecasts this October that form the basis for the GOP governor’s January budget proposal.
Filed under: Budget and Economy
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