California Unemployment Falls Below 10%

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

The unemployment rate in California was 9.8% in November, according to a press release from the state's Employment Development Department. This represents a 30-basis-point decline from October and a 150 bps drop from November 2011.

It also marks the first time in nearly four years the rate has been below 10% in the nation's most economically powerful and populous state.

California is broadly following the wider trend in the country, which has seen its collective jobless rate fall significantly since mid-2011. National unemployment is currently 7.7%.

Year-over-year job gains were particularly apparent in the state's IT sector, which grew its workforce by nearly 6% from November 2011. Construction (4.8%) and leisure and hospitality (4.1%) also grew over that time.

Sectors experiencing a reduction in job ranks included government (down 1.4% over the one-year period), mining and logging (-1.1%), and manufacturing (-1%).

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2166975, ~/Articles/ArticleHandler.aspx, 10/26/2016 9:35:48 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 12 hours ago Sponsored by:
DOW 18,169.27 -53.76 0.00%
S&P 500 2,143.16 -8.17 0.00%
NASD 5,283.40 -26.43 0.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes