Posted on 11/16/2012 1:45:40 PM PST by BenLurkin
LOS ANGELES (CBSLA.com) — The unemployment rate in California inched down slightly in October as the state Employment Development Department issued a dire warning that federal help for the long-term unemployed may soon run out.
The unemployment rate dipped to 10.1 percent in October – down from 10.2 percent a month earlier – after 45,800 jobs added to payrolls, according to the EDD’s Loree Levy.
“It certainly looks like the job creation engine is picking up some speed as we go toward the end of the year, so it’s good news,” Levy said.
Levy added the number of jobs created far outstripped the traditional rate of population growth – about 20,000 – during the same period.
Retail posted some of the biggest gains, with another 20,500 jobs added slightly ahead of the start of the busy Christmas shopping season.
“Normally we would expect a pretty strong gain in November,” Levy said. “To give you an idea, last October for instance, we saw a 2,000-job gain in retail trade, so [it was] certainly much stronger this year.”
But the otherwise positive data was overshadowed by a looming Congressional deadline at the end of the year, when the federal extension of unemployment benefits expires.
“That means no matter what kind of balance anyone has left on any kind of federal extension claim, no further payments can be made after the week ending December 29,” she said.
Levy estimated the deadline could mean a “very sudden stop” to benefits for as many as 400,000 unemployed statewide.
I guess that $16000000000000 debt is starting to squeeze Californian sensibilities.
Good News! Since they can no longer be receiving benefits, there will be a drop in the unemployment rate. All hail Obama
/sarc
No mas moola. No problem. Apply for disability.
Happy New Year!..........
That won't affect all the other money they are making under the table, above the table, using other names, the standard double dipping, obamaphones. etc.
back in the 70’s before Ameritec was, it was call Michigan Bell. Hubby was a foreman of a crew of splicers and the company decided to help out the chronic unemployed..They hired a bunch of them. They would show up if they felt like it, leave when they wanted to and on more than I occasions the foremen were ordered to check out their homes to see if they were OK....The chronic unemployed (read Holders people) are that was because its their way of life...At the end of the year 1 remained in the garage, the rest went back to being the poor unemployed. I am not talking about those that want a job and cannot find one today. A certain % of unemployed choose to be that way... Work interferes with their lifestyle....
Then you sit at home and sing “Big Rock Candy Mountain”.
Back in the ‘90s I worked in Macon, GA and talked with a small manufacturer there. The state, or Feds, had come up with a scheme to give the “jobless” a job via extra payments to business owners for each person hired. The guy tried it out and said so many were pist off that they had to work, they sabotaged his equipment in order to get laid off. Cost him thousands of dollars to repair. That was the last time he took ‘advantage” of any government brainstorm.
You can’t sit at home if you want to visit “The Big Rock Candy Mountain”!
https://www.youtube.com/watch?v=c6kv_eGSGZ4
I believe that, and quit feeling sorry for the chronic unemployed decades ago..its their lifestyle, work interfears with important things like sleeping and standing on the streetcorner..Back to Ma Bell, there was no government pushing it, just a corp. trying to do the right thing. That big bad corporation we all hear about.
Expect rioting in the streets.
Looking forward to any entertainment Zero's base can provide...
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