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Posted on 06/19/2010 11:21:18 AM PDT by ProtectOurFreedom
Santa Clara County posted its lowest unemployment rate in a year last month, but at 11 percent it remains stubbornly high and offers little consolation to the region's 100,600 unemployed.
The county's May jobless rate was down from a revised 11.4 percent in April, the state Employment Development Department reported Friday. The rate, which was 10.9 percent in May 2009, peaked at 12.1 percent in January.
One area showing gains was computers and electronics manufacturing, which grew by 300 jobs in May over April in the metro region of Santa Clara and San Benito counties.
"It's headed in the right direction," said Janice Shriver, EDD labor specialist. "Just the fact we're showing gains over the month instead of losses is good."
Economist Stephen Levy of the Center for Continuing Study of the California Economy called the dip in the local unemployment rate "another painfully slow step on the way to recovery. It's a month of improvement — not as much as we want — but it is a month of improvement."
California's rate dipped to 12.4 percent from 12.6 percent in April. A net job gain of 28,300 "is illusory" because it is based on temporary census hiring, said Michael Bernick, a labor lawyer and former EDD director.
(Excerpt) Read more at mercurynews.com ...
Not back to work..off of the unemployment rolls..same difference, but I wonders what the states welfare rolls have swelled to?????
Perhaps if the tax rates could be hiked some more, the venture capitalists could give up and pull the funding.
Thanks so much for your help federal government...NOT!
Perhaps the federal government can go do something else really stupid instead...I don't know...maybe forcing oil companies off the coast into waters that are too deep to safely drill in?
From 11.4% to 11.0%!! Stand back -- don't get crushed in the flood of people going back to work!
Where I come from, that's called bottom bouncing, or in more technical terms, statistically insignificant noise.
Furthermore, IF there actually is some sort of improvement, it is most likely to some factor other than recovery such as seasonal adjustments or census hiring. That's one of the primary reasons why the list of leading economic indicators consists of ten measures, only one of which is employment.
Bottom line: Articles like this abundantly illustrate why journalists are generally regarded as idiots, and why MSM rags such as the Mercury News in particular are in serious financial difficulty with a plunging readership.
Here is a pretty good picture of unemployment in California. If tou play it in cronological order you can see it play out.
http://www.sacbee.com/2009/03/19/1698037/unemployment-in-california.html
Maybe they need to check the WARN for California.
SV ping!
Hopefully things continue on this path.
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The Murky Nuz would be losing what's left of its mind.
And they sure wouldn’t be trumpeting this silly headline. They’d be mercilessly hammering Bush. But Barky can do no wrong.
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