California’s unemployment rate rises to 7.3%

California’s unemployment rate in July continued its upward flight, rising to 7.3%, a four-tenths of a percentage point jump from its June level, the U.S. Department of Labor reported Friday. It was the worst unemployment showing since July 1996 when the Golden State was still recovering from a deep recession that began in the early 1990s. Last month, there was a net loss of nearly 15,000 jobs as ongoing slowdowns in construction, real estate and the financial services industries continued to take their toll. For the full story visit www.latimes.com/business/la-fi-caljobs16-2008aug16,0,178127.story