Unemployment Rate in California Climbs for First Time in Almost Six Years
The unemployment rate in California is on the rise. After May's 5.2 percent the unemployment rate in the state climbed to 5.4 percent in June. According to the Employment Development Department, increase in unemployment rate was noted for the first time in about six years.
The Employment Development Department said "A stark departure from prevailing trend in that it was the state's first unemployment increase since September 2010 ... when the economy was only just emerging from the recession."
However, according to the economists just a one month's figures does not make it a trend and that the unemployment rate is calculated on a small sample of close to 5,500 California households, which is regularly revised. The rate can climb when people lose jobs or find one.
In June, the projected number of people with jobs in
California was 18,078,000. That's a drop from May by 4,000 but a rise by 308,000 from last year same time.
In June, the number of unemployed people in California was 1,022,000 in June. The number is an increase by 27,000 compared to May but a 160,000 decrease compared to last June when the state's rate of unemployment was 6.2 percent.
However, all these figures are projected on a seasonally adjusted basis to smooth out hiring spikes and drops like a slip in construction employment numbers in winter and a hiring binge during the holiday season.