California Unemployment on the Rise
More bad news on the economy front. California reported Friday that its statewide unemployment rate increased in June, leaving 11.6 percent of Californians without work while shedding 66,500 jobs in only 30 days.
More bad news on the economy front. California reported Friday that its statewide unemployment rate increased in June, leaving 11.6 percent of Californians without work while shedding 66,500 jobs in only 30 days.
AS CHAOS UNFOLDS, FIND SOLID GROUND…San Jose Mercury News:
California’s unemployment rate remained steady at 11.6 percent from May to June, the highest in modern record-keeping.
However, the U.S. Department of Labor reported Friday that 66,500 Californians lost jobs in June. It was the largest drop in the country, followed by Texas, Ohio and Michigan.
The federal government last month reported an 11.5 percent jobless rate in California but later revised the number to 11.6 percent.
Stephen Levy, senior economist at the Palo Alto-based Center for Continuing Study of the California Economy, called the rate misleading because California lost so many jobs in June.
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