Sat 24 Jan 2009
California jobless rate soars
Posted by Charles L. Stanley CFP® ChFC AIF® under Economy, Unemployment
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A weak housing market and decreased consumer spending raised the state’s jobless rate to its highest level in 14 years
By Dean Calbreath (Contact) Union-Tribune Staff Writer
2:00 a.m. January 24, 2009
The construction sector (left) accounted for the highest number of job cuts in 2008. Linens ‘n Things was among several retailers to close stores last year.
The unemployment rate in California soared to 9.3 percent last month – its highest point in 15 years – as construction firms, hotels, restaurants, casinos and amusement parks laid off workers in response to the widening recession.
Statewide, 78,200 workers lost their jobs in December, bringing the year-over-year job losses to 257,400, according to data released yesterday by the state Employment Development Department. (more…)
