SACRAMENTO, Calif. – The California Employment Development Department reported today that the state's unemployment rate rose dramatically in October to 8.2%, its highest level in 14 years. California's unemployment is the third-highest in the United States, after Michigan and Rhode Island, which each report 9.3%.

|

Thankfully, for the Golden State's growing numbers of unemployed residents, President George W. Bush today signed into law a $6-billion extension of unemployment benefits. Because California's unemployment rate exceeds 6%, its residents qualify for an additional 13 weeks of benefits, as defined by the bill.

|

Yesterday, Governor Arnold Schwarzenegger announced $18.4 million in job grants for veterans returning from the Iraq and Afghanistan wars, which will leverage their military skills into high-wage, high-growth civilian jobs. The measure will benefit 2,800 veterans, though the number pales in comparison to the 101,000 jobs California has lost in the past 12 months.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.