Posted on 08/21/2009 9:42:42 AM PDT by Steelfish
California's unemployment rate hits record high
The rate jumped unexpectedly in July to 11.9% even as the national rate declined.
By Alana Semuels August 21, 2009
California's unemployment rate took an unexpected leap in July, reaching a new high of 11.9% and bucking a trend that saw the national rate drop over the same period.
The state lost a net 35,800 jobs last month, shedding more jobs than any other state, the U.S. Labor Department said today. It has lost 760,000 jobs over the last year.
California is tied with Oregon for the fourth-highest unemployment rate in the nation, behind Michigan, Rhode Island and Nevada. June's unemployment rate of 11.6% had set a post- World War II record.
(Excerpt) Read more at latimes.com ...
They only have themselves to blame. In addition to all the economic problems the nation faces, California has exacerbated the situation with their anti-business laws and regulations and the pervasive environmental lobby that has infected their ability to take postive steps to improve their economy. Oregon is just a step-child with the same problems.
Thats just the official rate
Time to raise taxes again to stimulate the economy.
There’ that ‘UNEXPECTEDLY’ word from experts again.
oh really?
California is also Ground Zero with the busted real estate bubble. Lots of construction and real estate jobs... gone.
The real rate is likely double the official rate.
The media is in on the fix.
The trend nationally is still losing jobs. I’m befuddled how the nation can lose hundreds of thousands of jobs while the jobless rate ticks down a tenth of a percent.
It’s the “no longer looking” category that enables them to fake the numbers. They base it on time since unemployed rather than on actually no longer looking.
And I’m sure there are other games they play with the numbers as well.
Inflation will rise. Jobs will be lost. Taxes will go up when Bush cuts expire. Taxes will go up when cap and trade hits. Taxes will go up with healthcare hits. OPEC wants gasoline at $3.00 a gallon.
The economy sucks.
Nevada reported 12.5%.
NV Jobs Obamacized
Just wait until the state sees the impact from the quarterly tax rolls from businesses — they suck.
Add in the county and local taxes that are plunging from the real estate foreclosures and you have a bleak 2010 for Californians.
The developers used the greenies to put farmers and ranchers out of business so that they could buy cheap. They also restrict who can build so that the margins are fat. That meant that people had to pay a fortune for a crappy tract house. With subsidized loans, the real crooks have walked off Scot free with sufficient cash to do it again. They're pulling the same stunt with the Delta smelt all over again as we speak.
There's a reason Arnold was bought and paid for by the same crooks who brought us Gray Davis.
they used to have homes and jobs under Bush... now things have changed and they are homeless and unemployed!
It’s only that low if you don’t count people who have burned through their unemployment benefits.
As far as the government is concerned, we don’t exist.
Somehow, this is Bush’s fault.
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