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Jobless Rate Climbs in 46 States, With California at 11.2%
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| Parent(s) |
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| Contributor | Scott³ |
| Last Edited | Scott³ Apr 19, 2009 12:42am |
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| Category | News |
| Media | Newspaper - Wall Street Journal |
| News Date | Saturday, April 18, 2009 06:00:00 AM UTC0:0 |
| Description | Wall Street Journal.
"California and North Carolina in March posted their highest jobless rates in at least three decades, as unemployment increased in all but a handful of states during the month, the Labor Department said Friday.
California's unemployment rate jumped to 11.2% in March, while North Carolina rose to 10.8%, the highest for both since the U.S. government began a comprehensive tally of state joblessness in 1976.
The state-by-state employment figures showed only a few states avoiding the deterioration seen nationwide. Unemployment rose in 46 states during the month, and 12 states plus the District of Columbia posted unemployment rates in March that were significantly higher than the 8.5% nationwide figure the government released earlier this month.
The chief economist for California's finance department, Howard Roth, said the state's unemployment rate hasn't been this high since reaching 11.7% in January 1941. The highest level on record in California is 14.7% in October 1940, he said.
California lost 62,100 jobs in March, with Florida next at 51,900 jobs lost, Texas at 47,100 and North Carolina at 41,300, according to the federal figures.
California, the nation's most-populous state, has been hit particularly hard by the housing-market crash. That led to major job losses in the construction and financial industries. "We did it bigger in terms of the housing bubble," Mr. Roth said. "You pay for that by falling farther."
Still, the latest figures offered a "glimmer of hope," he said. March losses were about half the 114,000 jobs shed in February, a sign that the pace of decline in California's job market may be slowing." |
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