California’s jobless rate hits high of 12.6% in March

interns | Contributor

California’s unemployment rate reached a new high in March, hitting 12.6%, bolstering fears that joblessness will remain a persistent problem for the foreseeable future. The state’s unemployment rate in February was 12.5%.

The battered economy added nonfarm 4,200 jobs in March, primarily in the sectors of manufacturing, educational and health services, and leisure and hospitality. But the unemployment rate rose as formerly discouraged workers resumed their employment search. There were 117,000 more Californians seeking work in March than in February.

California’s jobless rate remains well above the national rate of 9.7% as its construction and financial services sectors continue to struggle. California was tied with Rhode Island for the third-highest unemployment rate in the nation, after Michigan and Nevada, according to data released Friday morning by the Bureau of Labor Statistics

Full story: California’s jobless rate hits high of 12.6% in March – latimes.com

Tags : bureau of labor statistics california economics economy business employment jobless jobless claims labor economics unemployment
Loading comments...
© Copyright 2010 - 2018 | The Daily Caller