California unemployment rate hits 7.7 percent
From the Associated Press:
SACRAMENTO (AP) _ State officials say California's unemployment rate jumped to 7.7 percent in August, up from a revised 7.4 percent in July.
The jobless rate announced Friday by the state Employment Development Department represents a big jump from the 5.5 percent figure in August 2007.
Excluding farm workers, payroll employment in California decreased by some 7,700 jobs last month compared to July.
Officials say some 1.42 million Californians were unemployed in August, up 413,000 from the same month a year ago.
The construction industry posted the most job losses over the year, with 79,200 jobs lost since August 2007, a drop of 8.9 percent.
About this blog
Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.
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Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
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Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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