Valley unemployment reaches five-year low

Source: The Business Journal

Madera County became the first Central Valley county to drop to single-digit percentage unemployment in nearly five years, according to the Employment Development Department’s release on Friday. Madera County reported a 9.3 percent unemployment rate in September. The last time a Central Valley county’s unemployment rate was below 10 percent was October 2008, when Madera County’s rate was 9.2 percent. The EDD released its statistics for both September and October on Friday, because the government shutdown prevented it from releasing the September statistics last month. Madera County had the lowest unemployment rate of the four counties both months, with a rate of 9.3 percent in September and 10.2 percent in October. The county’s unemployment rate was 11.3 percent in September 2012 and 12.1 percent in October 2012. Kings County posted an unemployment rate of 11.1 percent in September and 11.9 percent in October. The county’s unemployment rate was 13.1 percent in September 2012 and 14.2 percent in October 2012. Fresno County recorded an unemployment rate of 11.1 percent in September and 12 percent in October. The county’s unemployment rate was 13.2 percent in September 2012 and 14 percent in October 2012. Tulare County had the highest unemployment rate of the four counties, with 12.2 percent in September and 12.7 percent in October. The county’s unemployment rate was 14.2 percent in September 2012 and 14.5 percent in October 2012. Although Madera County was the only county to drop below 10 percent, all four counties reported their lowest unemployment rates since 2008.

URL to original article: http://www.thebusinessjournal.com/news/employment/9757-valley-unemployment-reaches-five-year-lows

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