Posted on 01/22/2010 11:16:35 AM PST by Baladas
California employers cut more workers from their staffs in December, capping a dismal year in which the state lost more than half a million jobs.
Payrolls shrank by 38,800 jobs last month, while the unemployment rate remained flat at 12.4% from the revised figure in November, which previously was pegged at 12.3%.
The state has the fifth-highest unemployment rate in the nation, after Michigan, Nevada, Rhode Island and South Carolina, and economists expect it to lag as the construction and retail sectors continue to struggle. Overall, the nation lost 85,000 jobs in December, but its unemployment rate remained at 10%.
Over the last two years, California has lost more than 1 million jobs.
"California is in worse shape than the country in a lot of ways," said Dan Seiver, an economics professor at San Diego State University. "It's probable that the recovery here might be even more sputtering than the nation as a whole."
The state's unemployment rate in December 2008 was 8.7%. In 2009, it jumped to double digits, where economists expect it to remain for this year.
The bursting of the housing bubble has flattened California's construction sector. California has shed more than 300,000 construction jobs -- nearly one-third of the industry's labor force -- since the sector peaked at 948,500 jobs in February 2006, according to state figures.
The state in 2009 probably set a record for the fewest homes produced in a single year since at least 1954, the California Building Industry Assn. said last month. Although the data are not yet final, the association forecast that 35,600 homes would be built in 2009, the lowest number since it began keeping track in 1954.
(Excerpt) Read more at latimes.com ...
Over 480,000 NEW unemployment claoms were filed in one week and “85,000” jobs were lost last month???
I don’t get how this is possible.
The state’s unemployment rate in December 2008 was 8.7%. In 2009, it jumped to double digits, where economists expect it to remain for this year.
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How is that hope &change working out for you California ?
We’re up to 15.8% here in Kern County.
The most jobs were lost by New York, which saw 36,400 more jobless.
Texas was second-worst, losing 28,700 jobs. Florida followed with 23,500 more unemployed.
http://www.freerepublic.com/focus/news/2434887/posts?page=9#9
Is China Lake getting anything from BRAC?
>>>Over 480,000 NEW unemployment claoms were filed in one week and “85,000” jobs were lost last month???
I don’t get how this is possible.
The claims number is a gross number. The payroll number is a net number that takes into account hires in addition to lost jobs.
See - the stimulus is working. :)
What are you worried about?
Here is a good interactive map of Calif
Unemployment in California
http://www.sacbee.com/1232/rich_media/1698037.html
I guess at The LA Times, everything shuts down for the rain. But out here in America, we have weather and we work in it!
CA looses tax payers and gains parasites. In the meantime..the flow of illegals continues and nobody running for State wide office is talking about solving the number one fiscal problem..the expense of illegals.
Right now, I am planning on registering Rat and voting for Brown. I figure that Brown will finally bankrupt the state and force reform. All the other GOP people running are really gutless Rino’s who will just continue on the path of Arnold..trying to save the state with financial tricks and federal help..but not address the issue of benefits and education for illegals and cost of the bureaucracy.
They should make a chart with govt versus private employment. Govt growing in numbers and pay..private falling with lower pay. That is the chart that would tell the big picture.
I wonder how much they spent and how many people maintain this wowwy chart?
I wonder how many of the hires were seasonal retail and delivery jobs for Christmas.
Gee, that is strange, both the Nation and CA lost more jobs in Dec(and most likely January)but the unemployment figures stayed “flat”. I call BS on that, JMO of course but still I call BS.
The economy and unemployment are the Paramount concerns for voters, yet Barry and Rahm have spent the last year frittering with tackling non-existant global warming, a healthcare bill that no one on the left or the right wants, blaming Bush, making sophmoric jokes about Republicans and entertaining Domestic Terrorist Bill Ayers at the White House.
” I figure that Brown will finally bankrupt the state and force reform. “
LOL, I don’t know if I could bring myself to vote for him but I think you are onto something. I’ve said for quite sometime that the only thing that will straighten California out is total bankruptcy.I see now the dems want to resurrect single payer health care in Cali again. It’s as if we aren’t broke enough already.
Check out this table from the Bureau of Labor Statistics (one that never seems to get any air-time in the media):
http://www.bls.gov/news.release/empsit.t09.htm
The increase in "Unemployed - 27 weeks and over" from Nov 2009 to Dec 2009 was almost 230,000 (and a staggering 3,500,000 from Dec 2008). The month-to-month increase since Aug 2009 has been from 200,000 to 400,000.
But hey, the recession is over, or so Zero's folks tell me.
But what’s the U6 number? How many have completely fallen out of the job market and are not counted?
One major national supplier is moving its operations from CA to Texas, shedding union jobs and high operational costs. The moving vans are headed out and will continue, especially with what’s coming out of Sacramento.
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