California jobless rate hits 12.5%

Pamphlets sit on a table during the Senior Job Fair at the Arcadia Community Center on October 2, 2009 in Arcadia, California.

California's unemployment rate rose to 12.5% in October, the fourth-highest in the country and the highest in the state since World War II. Across the nation, the jobless rate increased in 29 states. But there were positive trends as well- California gained 25,700 jobs last month. It's the first time the state has added jobs since April 2008, and suggests that the rate of job loss is slowing. What do the numbers mean for an economic recovery?

California's unemployment rate rose to 12.5% in October, the fourth-highest in the country and the highest in the state since World War II. Across the nation, the jobless rate increased in 29 states. But there were positive trends as well- California gained 25,700 jobs last month. It's the first time the state has added jobs since April 2008, and suggests that the rate of job loss is slowing. What do the numbers mean for an economic recovery?

Guests:

Jack Kyser, founding economist of the Kyser Center of Economic Research

Steven Levy, Director, Center for Continuing Study of the California Economy

Jon Haveman, Principal with Beacon Economics