Money & Company
Tracking the market and economic trends that shape your finances.
November 18, 2011 | 11:17 am

California’s unemployment rate fell by two-tenths of a percentage point to 11.7% in October as the state created 25,700 new jobs, the Employment Development Department reported. The agency also reported Friday that it had revised job growth in September upward, to 39,200, from about 12,000.

The national unemployment rate for October was 9%.

The slow-but-steady improvement, economists said, provides solid evidence that California is growing faster than the nation as a whole and is not in danger of plunging into a double-dip recession.

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The slow-but-steady improvement, economists said, provides solid evidence that California is growing faster than the nation as a whole and is not in danger of plunging into a double-dip recession.

CHART: California jobless rate, October

In the last year, the Golden State posted a net jump of 239,000 jobs, a jump of 1.7%, from October 2010, when unemployment peaked at 12.5%. The national increase was 1.2%.

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