California's unemployment rate ticked up a notch in August, to 12.1% from 12% the month before, according to new data from the U.S. Bureau of Labor Statistics. Employers shed 8,400 jobs from payrolls.
The numbers were little surprise to economists, who had anticipated no growth after national data showed that employers added no jobs nationally in August, when the U.S. unemployment rate stayed steady at 9.1%.
"Businesses are very reluctant to hire people," said Sung Won Sohn, an economist at Cal State Channel Islands in Camarillo. "The last thing they want to do is hire people and then fire them again a few months later." L.A. TIMES
Photo: Local residents attend a job fair. Credit: Glendale News-Press