California added jobs despite unemployment rate increase

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Money 101 with Bob McCormick
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California’s unemployment rate increased slightly to 8.7 percent in July, the first such bump since the spring of 2011. The Employment Development Department says the rate increased two-tenths of a percentage point, up from 8.5 percent in June.

Money 101 host Bob McCormick talks with Jordan Levine, the Director of Economic Research at Beacon Economics, who notes that despite the rate hike the state added more than 38,000 non-farm payroll jobs in July.

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