California's Unemployment Rate Increased In July


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(Sacramento, CA)
Friday, August 21, 2009
There’s more evidence that California is still mired in the recession. The state’s unemployment rate is approaching twelve-percent--the highest level since World War Two.

Capital Public Radio's Steve Shadley reports...
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California’s jobless rate jumped slightly in July to eleven-point-nine-percent. That’s compared to June’s level of eleven-point-six-percent. 
 
Dennis Meyers is an economist with the State Department of Finance. He says more than 35-thousand jobs were lost in July. Meyers says that’s much lower than in previous months, and that could be an early sign that the state is beginning a slow recovery...
 
Dennis Meyers “When you start getting mixed signals like this it’s a sign that okay maybe we’re heading toward the bottom. When you start seeing the bad news getting less bad for awhile it’s a hopeful sign that we have hit the bottom and things will turn around in the near future...”
 
Meyers says construction suffered the most job losses in July despite a recent uptick in new home starts in parts of California. 

Tourism and professional business services are the only sectors that saw job growth in the state last month. 

California’s jobless rate for July remained above the nation’s figure of nine-point-four percent last month.