Tuesday, 23 September 2008

Unemployment in California rose for a fifth straight month to 7.7% in August, and economists predicted that a recovery wouldn't come soon, given the depth of the Wall Street financial crisis.

It was the highest rate in just over 12 years and was tied with Mississippi's as the third worst in the nation. Nationally, unemployment was 6.1% in August.

The state's 17-million-person workforce lost 60,000 salaried and self-employed jobs from July to August and lost 240,000 jobs since August 2007.

– Los Angeles Times