The state Employment Development Department said Friday that California gained 24,200 jobs during the month. It’s the lowest rate in six years. The last time the unemployment rate fell below 7.4 percent was in July 2008.
California’s unemployment rate has dipped below 8 percent for the first time in nearly six years, a sign that the state’s economy has rebounded from the depths of the recession.
The state Employment Development Department said Friday the rate was down from 8.3 percent in December and from 9.5 percent a year earlier.
While unemployed job seekers in their 20s find if difficult to find work, those in their 50s are finding it nearly impossible. Research by the Federal Reserve in San Francisco finds that older workers, who are in the ranks of the long-term unemployed, have almost no chance of getting hired.
California’s unemployment rate fell to 8.7 percent in September and was unchanged in October, snapping a two-month streak of increases, the state Employment Development Department said Friday.
Unemployment rates in the Bay Area subsided again in August after a brief rise in July, but statewide jobless rates continued to climb, state employment officials said Friday.
Unemployment rates rose in July in the Bay Area and statewide, even as the national unemployment rate declined, state officials said Friday.
California’s unemployment rate fell to 8.6 percent in May, marking the first time in nearly five years the jobless rate has dipped below 9 percent.
The state’s Employment Development Department reported Friday that California’s jobless rate is at its lowest point since November 2008, nearly a year after the recession began.
California’s jobless rate decreased to 9.4 percent in March, continuing a steady decline as the state pulls itself out of recession.