State Jobless Rate Inches Up

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(Sacramento, CA)
Friday, October 19, 2007

California’s jobless rate in September rose a tenth of a percent from the previous month to five-point-six percent, according to the state Employment Development Department. 

 In the Sacramento region, the jobless rate remained unchanged from August at five point four percent. Job losses around the state are focused in two industries hit hard by the current real estate slump – mortgage lending and construction. 

Analysts say the housing slump doesn’t appear to be having much of an impact on California’s broader economy. 

But labor officials caution there are troubling signs in the retail sector as the holiday season approaches – businesses that would normally be adding jobs right now are holding off on hiring