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California unemployment jumps to 8.2%, third-highest in the U.S.
L A Times ^ | November 22, 2008 | Marc Lifsher and Tiffany Hsu

Posted on 11/22/2008 10:05:06 AM PST by radar101

The state's unemployment rate is the highest in 14 years; it rose half a percentage point in October from the month earlier. In the past 12 months, more than 100,000 jobs have been lost.

Reporting from Los Angeles and Sacramento — California's unemployment rate soared to a 14-year high in October, hitting 8.2%, and economists predicted that it could rise substantially over the next year and a half.

The state's economy shed 26,400 people from its payroll last month, raising the total number of lost jobs to 101,300 since October 2007, the California Employment Development Department reported Friday.

And the situation is about to get worse, predicted Ross DeVol, director of regional economics at the Santa Monica-based Milken Institute. The unemployment rate is seen reaching 9.9% in the first quarter of 2010, with the loss of 360,000 more jobs before then.

The hemorrhaging of jobs is "another indication that the state is plunging into what is likely to be a long and deep recession," said Stephen Levy, chief economist and director of the Center for the Continuing Study of the California Economy in Palo Alto.

The 0.5-percentage-point jump in the state's unemployment rate, from 7.7% in September, was even larger than the recently posted increase in the national rate, up 0.4 of a percentage point to 6.5%. The state's rate ranks third in the U.S., exceeded only by those of Michigan and Rhode Island, at 9.3% each.

Joblessness increased throughout Southern California in October. It reached 8.4% in Los Angeles County, 9.5% in the Inland Empire, 6% in Orange County and 7.2% in Ventura County.

"A financial market crisis, the loss of wealth for consumers and the growing worldwide recession are feeding on themselves as consumers and businesses grow scared and cautious," Levy said.

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; US: California
KEYWORDS: caleconomy; economy; jobless; unemployment

1 posted on 11/22/2008 10:05:06 AM PST by radar101
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To: radar101

BUT WE DIDN’T LOWER WELFARE


2 posted on 11/22/2008 10:05:46 AM PST by radar101
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To: radar101

And hey, the actors very well are going on Strike soon. Yay


3 posted on 11/22/2008 10:07:43 AM PST by Paul8148
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To: radar101

What CA needs is more taxes on the wealthy.


4 posted on 11/22/2008 10:09:38 AM PST by earthFriendly
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To: radar101

Wow - you guys need to raise taxes fast.

(/sarcasm)


5 posted on 11/22/2008 10:09:48 AM PST by Tzimisce (http://groups.myspace.com/nailthemessiah)
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To: radar101
"Joblessness increased throughout Southern California in October. It reached 8.4% in Los Angeles County, 9.5% in the Inland Empire, 6% in Orange County and 7.2% in Ventura County."

Does anyone want to guess Why? This where we are going nation wide if Obama gets what he wants.

6 posted on 11/22/2008 10:11:31 AM PST by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: radar101

The illegals are going back to Mexico by the 10,000’s.
You can see it in front of the Home Depots, etc.
Also the traffic is down a lot, less PU’s with 4 or 5 illegals in the back. This is GREAT!!
However the Commies in the legislature are going to solve the problem with raising taxes. Brilliant!


7 posted on 11/22/2008 10:15:24 AM PST by TaMoDee
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To: radar101

QUICK! Raise taxes! Children’s lives are at stake!


8 posted on 11/22/2008 10:19:31 AM PST by farlander (Try not to wear milk bone underwear - it's a dog eat dog financial world)
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To: radar101
Everything is going as PLANNED!

"Save us Obama! Save us!"

9 posted on 11/22/2008 10:21:04 AM PST by FlingWingFlyer (I voted for McCain/Palin so I can look my grandchildren in the eyes when I tell them I'm sorry.)
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To: radar101
California unemployment jumps to 8.2%, third-highest in the U.S.

So, which two states have the dubious honor of having the highest unemployment ? ( I bet Michigan is number 1 ).

And to understand what they're doing right, which states have the actual honor of having the LOWEST unemployment ?
10 posted on 11/22/2008 10:26:58 AM PST by SeekAndFind
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To: radar101

What is the tipping point in CA, MI, and NY where the people figure out that their elected liberals have failed them. It should start in the next 4 years because there will be no Bush to blame. The Dems have total control.


11 posted on 11/22/2008 10:27:56 AM PST by ilgipper
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To: radar101

Hmmm, So who is #1 and #2 ?


12 posted on 11/22/2008 10:30:04 AM PST by dragnet2
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To: TaMoDee
The illegals are going back to Mexico by the 10,000’s.

Yeah, and the liberals are all fleeing to other states so I'm told.

Good news...lol.

13 posted on 11/22/2008 10:32:04 AM PST by dragnet2
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To: ilgipper

Tipping point? Unemployment in the Great Depression was 30% and loss of house and farm widespread, yet did the faithful turn from the Democrats?


14 posted on 11/22/2008 10:33:00 AM PST by RightWhale (Exxon Suxx)
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To: SeekAndFind

The liberal states have the highest taxes and highest unemployment and highest deficits. Glad people thought out their vote in the election.


15 posted on 11/22/2008 10:33:33 AM PST by icwhatudo
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To: dragnet2
As of October, 2008 it is Michigan and Rhode Island.
16 posted on 11/22/2008 10:35:34 AM PST by softwarecreator (Wow, free food, free gas and no more mortgage payments after January 2009, thanks Obama!!)
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To: radar101

Someone tell Ahnold that he’d better start levying that Global Warming tax & carbon caps on CA utilities quick—while there are still some citizens left to pay the bills.


17 posted on 11/22/2008 10:36:02 AM PST by rbg81 (DRAIN THE SWAMP!!)
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To: icwhatudo

And in California they have both property taxes and state income tax. In Texas we have no state income tax. California should be SWIMMING in tax dollars with the DOUBLE tax system! They are so screwed up out there. Just moved back to Texas from So Cal in 2007 and we were so happy to get back HOME!


18 posted on 11/22/2008 10:36:33 AM PST by buffyt (Obama's days of walking on water won't last indefinitely.His chroniclers will wade back into reality)
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To: radar101

I’m willing to bet none of the lost jobs are state government jobs.


19 posted on 11/22/2008 10:36:56 AM PST by shorty_harris
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To: shorty_harris

Yes, you could bet a trillion dollar bail out on that one! LOL


20 posted on 11/22/2008 10:37:20 AM PST by buffyt (Obama's days of walking on water won't last indefinitely.His chroniclers will wade back into reality)
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To: radar101

“The drop in spending has flattened seasonal hiring of salespeople and pushed retail employment into negative territory along with housing, construction, finance and some types of manufacturing, said Jerry Nickelsburg, a senior economist with the UCLA Anderson Forecast who specializes in California and L.A.

“This is a consumption-driven downturn,” he said.

Growing joblessness, combined with the fear of becoming unemployed, is turning normally free-spending consumers into penny pinchers.”

Sure...all recessions are consumption driven...after being driven by something else, like socialistic control over labor and markets.


21 posted on 11/22/2008 10:37:49 AM PST by Wpin (I do not regret my admiration for W)
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To: radar101

Our county managed to add a thousand jobs over the first 9 months of the year.


22 posted on 11/22/2008 10:38:30 AM PST by CharlesWayneCT
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To: radar101
Meanwhile in Texas things just keep bubbling along:

The professional and business services sector grew by 12,200 jobs in October. Education and health services grew by 3,700 jobs; trade, transportation and utilities increased by 2,700 jobs; and natural resources and mining added 1,600 jobs, according to the commission.

This from wfaa.com

23 posted on 11/22/2008 10:48:39 AM PST by engrpat (End the National Nightmare on 1-20-2013)
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To: earthFriendly

Yes, let’s impose an exclusive Hollywood-Star Tax on all the big-mouth Liberal-Elitists. Let’s target the sleezey movie star flashy types that grace the cover of the shopping market tabloids.

The Conservative Californian’s that are wealthy will continue to leave the state and relocate their assets elsewhere. Just as many prosperous corporations have relocated in more tax-friendly states.

Eventually, a once beautiful state will be transformed into a complete third-world poverty driven cesspool dependent on government hand-outs from the national government.

Welcome to Kali-fornia and welcome to Freerepublic!


24 posted on 11/22/2008 10:51:10 AM PST by Gemsbok (Follow the trail,...,.,.,.,..... I know where it leads)
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To: earthFriendly

What’s your definition of wealthy, newb?


25 posted on 11/22/2008 10:51:12 AM PST by ErnBatavia (Cuba got "Change"...in 1959)
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To: earthFriendly

What CA needs is more taxes on the wealthy.

and raise the minimum wage to help the poor people.
geez it is only 8/hr here.
That wouldn’t contribute to unemployment would it?
All the regulations wouldn’t diminish the employment prospects would it?
Heck most of them are democrats and have you ever met a democrat that you would hire?
It is more complicated than you think, but it was a start.


26 posted on 11/22/2008 10:52:10 AM PST by genghis
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To: radar101

Wouldn’t off shore drilling create more jobs?


27 posted on 11/22/2008 10:54:07 AM PST by ethics
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To: TaMoDee
The illegals are going back to Mexico by the 10,000’s.

They will be returning soon. Amnesty and open borders are just months away. They will be returning for welfare, not jobs. They will no longer need to work menial jobs.

28 posted on 11/22/2008 10:55:24 AM PST by businessprofessor
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To: Gemsbok
“The Conservative Californian’s that are wealthy will continue to leave the state and relocate their assets elsewhere”

This had been happening for a number of years now. That is why the state continues to get more dimocRAT. Orange County one of the more conservative counties is slowly going dimocRAT as the conservatives more out. I bet in 10 years the dimocRATS will take over Orange County.

29 posted on 11/22/2008 11:00:24 AM PST by Parley Baer
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To: blackbart.223

Be prepared for the Great Stagnation.

If the states are the laboratory for Democracy look for the California model of insane environmental regulation, high taxes and out of control litigation to be exported nationally.


30 posted on 11/22/2008 11:07:00 AM PST by ggekko60506
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To: ErnBatavia
What’s your definition of wealthy, newb?

Less than you make now.
31 posted on 11/22/2008 11:20:15 AM PST by earthFriendly
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To: Gemsbok
Yes, let’s impose an exclusive Hollywood-Star Tax on all the big-mouth Liberal-Elitists. Let’s target the sleezey movie star flashy types that grace the cover of the shopping market tabloids.

Structure it like one of those large police sting operations where they send "free tickets" for a fake sporting event to bail jumpers. They all show up, ready for the big game, and "ta da!", you're busted. The Hollyweird version would be an award show for "Outstanding Achievement in the Field of Excellence". Barbara Streisand, Michale Moore, Alec Baldwin, they all show up. Then Joe Binden walks up to the mic, and says "Congratulations on your patriotism!" and takes 90% of their net worth, bang.


32 posted on 11/22/2008 11:20:16 AM PST by earthFriendly
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To: radar101

California has always been a never-never land and is long overdue for a dose of reality.

Even the 2 unemployed people the article referenced were a “nonprofit manager” and a “designer.”


33 posted on 11/22/2008 11:26:26 AM PST by PGR88
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To: radar101

So California is approaching the unemployment rates of socialist old Europe?
Huh... I wonder why that would be?


34 posted on 11/22/2008 11:27:46 AM PST by Lancey Howard
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To: businessprofessor
They will be returning soon. Amnesty and open borders are just months away. They will be returning for welfare, not jobs. They will no longer need to work menial jobs.

Mostly, they want anchor babies and all the "free stuff" they are "entitled" to..

35 posted on 11/22/2008 11:30:09 AM PST by Lancey Howard
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To: RightWhale

During Stalin’s forced collectivization of the 30’s the sheeple were convinced starvation and death was happening because Uncle Joe didn’t know.


36 posted on 11/22/2008 11:30:34 AM PST by depressed in 06 (Bolshecrat, when only the very worse will do.)
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To: radar101

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/22/MNSI149KON.DTL

Gov. Arnold Schwarzenegger issued a statement acknowledging the economic difficulties “especially for people who have lost their jobs or who have begun looking for one.”

He urged state legislators meeting in a special session this weekend to enact a stimulus package and pass a new funding plan to shore up the state’s unemployment fund, which is expected to run out of money in January, although federal loans will keep checks coming.


37 posted on 11/22/2008 11:34:58 AM PST by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: radar101

This is good.....the depression will send the illegals home


38 posted on 11/22/2008 11:38:20 AM PST by bert (K.E. N.P. +12 . Save America......... put out lots of waferin)
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To: TaMoDee
The illegals are going back to Mexico by the 10,000’s.

Seriously, I do notice more white people waiting on me at the stores I frequent.

39 posted on 11/22/2008 12:24:04 PM PST by Hardastarboard (America is so "twenty minutes ago")
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To: radar101

Newbie troll alert, judging by posts 4 and 31.....sniff.


40 posted on 11/22/2008 12:27:43 PM PST by ErnBatavia (Cuba got "Change"...in 1959)
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To: calcowgirl

"I'm here to BancRUPT you up!"

41 posted on 11/22/2008 12:56:09 PM PST by Bommer ( Republican Party - RIP!)
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