New Jobs Added But State Unemployment Up in October

California’s unemployment rate increased from 12.3 percent to 12.5 percent in October, the state Employment Development Department said November 20.

The national unemployment rate also increased in October to 10.2 percent.

In October 2008, California’s unemployment rate was 8 percent.

While the unemployment rate rose, the state reported 25,700 non-farm jobs added.

The level of unemployment contributes to the state’s budget woes. Fewer people working means less tax revenue for state coffers. 

Gov. Arnold Schwarzenegger issued this statement about the level of unemployment:

“There are still far too many unemployed Californians who need jobs and can’t find them. That’s why I have made job creation a top priority of my Administration this year. I appointed one of my top advisors to move my green job initiatives forward, drive economic development and grow our green economy. I am committed to doing everything possible to leverage resources at all levels of government to help create and retain jobs.”

The unemployment rate varies significantly by county. Imperial, for example, has a 30 percent unemployment rate. Fresno County is 15.8 percent and Los Angeles and Sacramento, 12.6 percent.




Filed under: Budget and Economy

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