California Unemployment Rate Holds at 12.5%

California unemployment rate holds at 12.5%

L.A. Times
March 26, 2010

The latest figures indicate the recession is dragging well into 2010.

The state's jobless rate was 10.2% last February.

Nationally, the jobless rate was similarly flat, at 9.7% for the first two months of this year.

California's unemployment rate held steady at 12.5% in February, as effects of the recession dragged into 2010, the U.S. Department of Labor reported Friday.

The state's jobs picture mirrored a similar flattening of the national rate at 9.7% for the first two months of the year.

Employers continue to be very reluctant to expand their payrolls, economists said, despite signs of some increased activity in retail sales, international trade and manufacturing.

California's unemployment rate was 10.2% in February of last year.

marc.lifsher@latimes.com

http://www.latimes.com/business/la-fi-c ... 0818.story