Saturday, July 23, 2011

California Unemployment Rises To 11.8%

This just in, the California EDD has reported on July 22 that the California unemployment rate rose to 11.8% which is crushing news to many California residents with hopes of landing a new job and getting off of the unemployment benefits that the California EDD provides. The good news is the addition of a California EDD Debit Card that is making receiving and spending the unemployment insurance payments much easier for recipients. The new debit card is also saving California a ton of money which may help offset the increase in the unemployment rate which will result in thousands of new California residents applying for benefits. The new debit card started rolling out July 8 and 10,000 new cards are being sent out per day. Back to the unemployment rate however, the US unemploymetn rate is 9.2% and unfortunately California is leading the nation in the amount of jobless Americans with the new staggering 11.8% rate. In June there were 528,919 recipients of benefits down slightly from the previous month and down significantly from this time in 2010. What will the July numbers tell us with the rate increasing by .1 percent? We'll provide an update next month.