Friday, February 27, 2009

California Unemployment Rate Tops 10 Percent

SACRAMENTO (AP) -- California's unemployment rate jumped to 10.1 percent in January, the state's first double-digit jobless reading in a quarter-century.

The jobless rate announced Friday by the state Employment Development Department represents an increase from the revised figure of 8.7 percent in December. It also is 2.5 percentage points higher than the national jobless rate in January of 7.6 percent.

A year ago, California's unemployment rate was 6.1 percent. Since then, steep declines in the construction, finance, information and retail industries have put thousands out of work.

Rest of the story here.

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