Construction Jobs Down

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(Sacramento, CA)
Friday, August 17, 2007

The jobless rate went up two-tenths of a percent to 5.4%. David Lyons with the state Employment Development Department says the construction sector posted the biggest losses. 

"Construction is down just slightly from June by 400 jobs, but we’re down by a full 3,000 jobs from where we were last year. Of course we’re coming off of 13 years of growth so a construction downturn is somewhat long overdue." 

The housing slump is also blamed for 100 jobs lost in the financial industry last month. Statewide, the number of people looking for work in July inched higher, boosting the state unemployment rate to 5.3%, compared to 5.2%in June.