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.
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