Jobless rate in California, the most populous state in the nation, soared to 8.2 percent in October as the global financial crisis deepened, according to newly-released figures.
During the period, employers cut 26,400 nonfarm payroll jobs, the state Employment Development Department (EDD) said in a report published by the San Francisco Chronicle on Saturday.
According to the report, the jobless rate had increased from 7.7 percent in September to its highest level since September 1994.
California's unemployment slide has been steep and sudden, the report said. Last October, the rate was just 5.7 percent.
The report said about 100,000 payroll jobs have evaporated in the last 12 months, leaving 15.1 million Californians still employed. The steepest payroll losses continue to be associated with the housing bust.
Construction payrolls shrank again in October to about 803,000,down 7.6 percent or 66,000 jobs since last year at this time, according to the report.
Payrolls in the financial activities sector also shrank in October, bringing to 32,000 the number of jobs lost in the last 12months, the report said. About 836,000 Californians still work in finance, down 3.6 percent since October 2007.
The report said nearly 528,000 Californians were collecting unemployment benefits in October.
Nationwide, the jobless rate was 6.5 percent in October.
Source: Xinhua
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