California's Unemployment Rate Inched Up Again In October

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(Sacramento, CA)
Friday, November 20, 2009
California’s unemployment rate increased slightly last month when more than two-million people were without jobs. 

But, analysts say the news isn’t all bad.

Capital Public Radio's Steve Shadley reports...
California’s unemployment rate hit twelve-and-a-half-percent in October. 

That’s up slightly from September’s revised rate of twelve-point-three percent. Despite the increase, the state added more than 25-thousand jobs in October. 

Loree Levy is with the State Employment Development Department. 

She says some of the biggest job gains last month were in financial services which includes the mortgage and banking industry...
Levy:   “The first gain there in 31 months, and that’s important because certainly in the housing related sector with financial activities and construction that’s where we took the initial onset of hits in jobs when the recession first started so its good to see this sector starting to stabilize...”
Levy says health care also added jobs in California last month.  

She says its too early to tell if retailers are hiring a lot of help for the holiday shopping season.