California unemployment rose half a percentage point in October from the month earlier to 8.2%, the highest in 14 years. In the past 12 months, more than 100,000 jobs have been lost.
Meanwhile the President signed into law a $6-billion extension of unemployment benefits that provides as many as 33 weeks of additional assistance for people, whose benefits would have run out.[1] A somewhat tepid response, but hopefully it will get us into the next administration.
Friday, November 21, 2008
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