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MINUTES
CALIFORNIA BUSINESS MINUTE Employment 06-23-08
Hi, I am Tim Johnson and welcome to the California Business Minute.
The state Employment Development Department released employment figures for May. Unemployment increased to 6.8 percent up from 6.2 percent from April. Californias estimated unemployment rate was 5.3 percent from April 2007.
Construction, information, financial services, manufacturing, trade, transportation and utilities and financial services posted losses over the year. Construction had the largest decline from both an aggregate and percentage basis, down 88,400 jobs and a decline of 9.8 percent. Education and health services, natural resources and mining, professional and business services and leisure and hospitality posted gains.
Nine counties had unemployment rates equal to or lower than the U.S. average of 5.5 percent in May down from 10 in April. These included; Marin, Napa, Orange, San Diego, San Francisco, San Luis Obispo, San Mateo, Santa Barbara and Sonoma. However, on the opposite side of the unemployment picture, 9 counties have double digit unemployment, the good news it is down from 13 counties in April and from 23 in March. Those that have double digit unemployment include; Alpine, Colusa, Imperial, Merced, Modoc, Sierra, Stanislaus, Sutter, Trinity and Yuba. Unfortunately 48 out of the 58 counties in the state have higher unemployment rates than the national average.
Marin had the lowest unemployment rates at 4.2. Imperial County had the highest at 19.2 percent.
I am Tim Johnson and this has been the California Business Minute.
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