California Unemployment Hits 10.5%
It just keeps getting worse. January, unemployment statewide was 10.1%. Today, it's 10.5% and by contrast, it was 6.2% twelve months ago. February was the 11th straight month that the number increased. Last month, we saw over 116,000 go away with most of them, 39,000, in construction.
Only one industry had an increase. There were 7,900 new information industry jobs in February.
18 of the nation's 100 largest job markets have unemployment rates above 10%. The Los Angeles region in included as well as Bakersfield, Fresno and Stockton--all three top the list.
Nationwide, unemployment is 8.1%.