every person that goes on welfare and quits looking for work, is no longer counted in the unemployment number...
Posted on 06/20/2014 8:34:02 PM PDT by rey
Job growth accelerated in Sonoma County for the fourth consecutive month, dropping the county's unemployment rate in May to a six-year low, the state reported Friday.
The county's jobless rate fell to 5.0 percent in May, down from 5.3 percent in April and 6.5 percent a year ago, the state Employment Development Department reported. It has not been this low since May 2008, when it also stood at 5.0 percent.
The local economy created 3,400 jobs between April and May as employers expanded their payrolls for the fourth straight month. Since the beginning of the year, the economy has added 8,300 wage and salary jobs, increasing industry employment to 197,100, the most since September 2008.
“Business owners are now sticking their heads out of their foxholes and expanding,” said Sherill Stockton, a senior vice president of small business loans at Exchange Bank in Santa Rosa. “Activity has picked up across the spectrum.”
The local economy has nearly regained all the jobs it lost during the Great Recession, which began in late 2007 when the housing bubble burst and financial markets crashed. Nearly one in seven workers in Sonoma County lost their jobs during the downturn, which wiped out 31,400 local jobs in just over two years, a devastating blow that has taken the local economy more than four years to shake off.
Though it started slowly, the economic recovery has now created 26,100 jobs in Sonoma County since employment hit bottom in January 2010, when the jobless rate peaked at 11.2 percent in Sonoma County.
Today, Sonoma County has the sixth-lowest jobless rate in California, behind only Marin, San Mateo, San Francisco, Napa and Orange counties. Five of the six counties are located in the Bay Area, which now has the tightest labor market in the state.
(Excerpt) Read more at pressdemocrat.com ...
I knew people were graduating with poor math and logic skills, but this is ridiculous.
The unemployment rate doesn’t count the number of people no longer eligible for unemployment payments and who have quit looking for work. But no matter how they manipulate the numbers, fewer people are working than before Obama.
If the demos believe the economy is doing so well, it’s time to scale back food stamps, ebt cards, and other welfare programs.
every person that goes on welfare and quits looking for work, is no longer counted in the unemployment number...
7 years running and we still haven’t regained all the jobs lost.
Yep. Things are just doggone peachy, I’d say.
And the two+ years of unemployment checks they demanded.
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