California's unemployment rate fell in November, another sign that a recovery is underway, even as the state shed jobs from its payrolls.
The state's unemployment rate slid to 12.3%, the Bureau of Labor Statistics reported this morning, down from 12.5% the month before. It is one of 36 states that saw unemployment rates decline in November.
Still, California shed 10,200 jobs from its payrolls, a month after adding jobs for the first time since April 2008.
The state still has one of the highest unemployment rates in the nation, tied with Nevada and South Carolina at 12.3%. Only Michigan and Rhode Island had higher unemployment rates in November.
California has lost 617,000 jobs since November 2008, the Bureau of Labor Statistics said. A year ago, the unemployment rate was 8.3%.