In another sign of a slowing economy, the unemployment rate in Silicon Valley inched upward for a fourth consecutive month in August to reach a four-year high, newly released data showed.

Unemployment in Silicon Valley reached 6.6 percent last month, up from a revised 6.5 percent in July and 5 percent in August 2007,according to data made public by California's Employment Development Department on Saturday.

The 6.6 percent unemployment rate in Silicon Valley is the highest since July 2004, when it was 6.7 percent.

The year-over-year job total fell by 1,400 jobs in Santa Clara and San Benito counties which are home to the Silicon Valley.

"We've lost a lot of wealth, and it's hitting us even here in Silicon Valley where the fundamentals of the economy are strong," said Stephen Levy of the Center for Continuing Study of the California Economy.

Statewide, the unemployment rate was 7.7 percent in August, up from 7.4 percent in July.

The number of people unemployed in California was 1,417,000, up by 61,000 over the past month. The number represents a jump of 413,000 compared with August of last year.

The Silicon Valley counties near San Francisco also recorded month-over-month job losses in trade, transportation and utilities(600 jobs). The area also lost 1,200 jobs in financial activities, with half of those in finance, including mortgage, banks, and savings and loans.