From the Sacramento Bee:
California’s unemployment rate continued climbing to 11.9 percent last month but there was encouraging news as the pace of job losses moderated.
The Employment Development Department said the state’s unemployment rate jumped three-tenths of a percentage point during the month. But the state lost just 35,800 jobs during the month. That’s the smallest loss in months and may suggest an easing of the downturn. The state has been losing at least 60,000 jobs a month for the past several months.
Sacramento’s unemployment rate rose to 11.8 percent, up a tenth of a point from a revised 11.7 percent in June. The region lost 8,000 jobs during the month, with much of the job loss coming in education as summer schedules kicked in. In a year’s time, the region has lost 45,700 jobs, or 5.1 percent, and unemployment has risen 4.6 percentage points.