Business

State unemployment rate drops to 9.8 percent in November

Friday, December 21, 2012
People are seen standing in line for a job fair in the Los Angeles area in this undated photo.

People are seen standing in line for a job fair in the Los Angeles area in this undated photo. (KABC Photo)

California's unemployment rate dropped below 10 percent in November, the lowest it's been in almost four years.

The Employment Development Department reported Friday that the unemployment rate fell to 9.8 percent in November, a decline of 0.3 percentage point from October.

The rate hasn't dropped into the single digits since January 2009, when the rate was 9.7 percent.

Leading economists had wrongly predicted that California's unemployment would remain in double digits through 2013. The update signals that California's economy may have finally turned the corner.

The department said California has added more than 564,000 nonfarm payroll jobs since the recovery began in 2010.

The number of Californians working was near 14.4 million, according to the report Friday, despite a decrease of 3,800 jobs since October.

"It's continuing the trend," department spokesman Kevin Callori said. "It's a respectable pace for growth and an expanding economy."

The Associated Press contributed to this report.

(Copyright ©2014 KABC-TV/DT. All Rights Reserved.)

Get more Business »


Tags:
california, economy, jobs, unemployment, business
blog comments powered by Disqus
Advertisement