State Unemployment Falls to 5.8 Percent

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(Sacramento, CA)
Monday, September 13, 2004
Last month's state unemployment rate improved-at five-point-eight percent in August, it's down from a revised six-point-two percent in July. Principal Economist Dennis Meyers with the state Department of Finance says one reason is many of the unemployed have started school. Cut: Dennis1 (:15) "We think school years may have started a little earlier in some districts or community colleges in some districts. So that may have brought forward the time when people call themselves students instead of unemployed-they've been looking for work all summer." However, the state gained just over three-thousand jobs last month. Senior economist Joe Hurd with the U-C-L-A Anderson Forecast says he expected thousands more. Cut:JoeH1 (:04) "It's a weak number, but one way to look at it is it's better than going down." Hurd says higher costs may be keeping employers from hiring more workers right now. SOC