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California's Jobless Rate Hits Lowest Point in Over 5 Years.(Originated from San Jose Mercury News, Calif.)
Knight Ridder/Tribune Business News, July, 1996 by Thurm, Scott
SAN JOSE, Calif.--Jul. 20--Led by a continuing boom in Silicon Valley, California's unemployment rate declined last month to 7.1 percent, its lowest level in 5 1/2 years.
The state's businesses added an estimated 33,000 jobs in June, according to statistics released Friday. So far this year, California businesses have added about 140,000 new jobs -- roughly matching last year's pace.
The state classifies most of the new jobs under the heading of service businesses, which includes both high-paying software jobs and low-paying retail and temporary-help positions. But there are also about 40,000 more manufacturing jobs in California now than a year ago.
Significantly, the state Department of Finance estimates that Californians' personal income increased...
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