California’s Unemployment Rate Increases To 8.2 Percent
-->Politics, California Housing Crash, The Economy, Real Estate November 22nd, 2008
California’s unemployment rates keep raising. According to the EDD:
SACRAMENTO – California’s unemployment rate was 8.2 percent in October, and nonfarm payroll jobs declined by 26,400 during the month, according to data released today by the California Employment Development Department (EDD) from two separate surveys.
The U.S. unemployment rate also increased in October to 6.5 percent.
In September, the state’s unemployment rate was 7.7 percent, and in October 2007, the
unemployment rate was 5.7 percent. The unemployment rate is derived from a federal
survey1 of 5,500 California households.
Nonfarm jobs in California decreased by 26,400 over the month, for a total of
15,066,700, according to an EDD survey2 that is larger and less variable statistically.
The survey of 42,000 California businesses measures jobs in the economy. The yearover- year (October 2007 to October 2008) change shows a decrease of 101,300 jobs(down 0.7 percent).
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