California Jobless Rate Below 10 Percent
California's jobless rate dipped below 10 percent last month for the first time since the recession began, the state announced Friday, signaling that the state's economy may have finally turned the corner.
The 9.8 percent unemployment rate reported by the Employment Development Department is down from 10.1 percent in October.
It marks the first time in nearly four years that the rate dropped into single digits. The last time was in January 2009, when the rate was 9.7 percent.
Leading economists had predicted that the unemployment rate would remain in double digits through 2013.
Source: AP. Read full article. (link)
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