Skip to comments.California: State unemployment rate falls to 9.8% even as employers shed jobs
Posted on 12/21/2012 12:23:26 PM PST by SeekAndFind
California's unemployment rate hit single-digits in November for the first time in almost four years, thanks in part to a holiday hiring surge by retailers.
The jobless rate fell to 9.8% from 10.1% in October, according to data in an overall jobs report released Friday by the state Employment Development Department.
The drop in the unemployment rate, determined in a survey of households, came even as a separate payroll survey found that employers in the state shed 3,800 jobs.
The state showed a very significant and encouraging drop in the unemployment rate, said Lynn Reaser, chief economist at the Fermanian Business and Economic Institute at Point Loma Nazarene University. A fall below 10% is welcome news.
For months, economic forecasts have said the unemployment rate wouldnt fall to single digits until at least next year.
Both surveys in the report provide a mixed view, though, of what is still a fragile economic recovery in the state.
For instance, the state's labor force -- the number of people who are able to work and either have a job or are looking for one -- grew by 34,100 people in November. That typically indicates that job seekers feel encouraged to resume looking for work again.
The good news in California was that we saw more people looking for work and more people getting jobs, Reaser said. But the bad news was that the nonfarm payroll survey, which is usually the more reliable source, showed a small drop in employment ... and comes as quite a disappointment.
The payroll survey of employers showed that the biggest drop in jobs -- 11,000 -- came in the education and health services sector. The manufacturing sector lost 8,900 positions. The biggest gains offsetting most losses came in retail, which added 15,900 jobs.
(Excerpt) Read more at latimes.com ...
government statistics are no longer worth the bits on a harddrive they are stored on
Sure, just like i believe the governments report on Benghazi.
Yes, but that’s a huge improvement of nearly 11% just a few months ago. Dems are touting this as the start of a turnaround due to the passing of Proposition 30.
Yes, but that’s a huge improvement over nearly 11% just a few months ago. Dems are touting this as the start of a turnaround due to the passing of Proposition 30.
I believe it. There are fewer jobs and more people are opting for welfare. If the State of California started counting gang members who make a living stealing, pimping, and selling drugs we might be able to get the unemployment a little bit lower.
See, all they needed was higher taxes and more spending. Back to your soylent green.
I would assume that most people leaving California, which is occurring in great numbers, are unemployed people. I’m not real competent at DNC mathematics, could anybody tell me if this might influence the unemployment numbers?
“9.8% is sky high!”
That’s just too f’n high!
ps: This was Spielberg’s 2nd movie he produced - perhaps his best!
Agreed Geronl, and the statistics are, as well, no more relevant than the vote counts claimed by various sources. Our votes are counted by SEIU personal, without any possibility of verification. Can anyone imagine that they have validity - represent the will of the people? Votes are data. Data are accurate or not, and data without verification, counted by individuals with extreme bias and direct fiduciary interest in the outcome are worse than inaccurate, they are simply propaganda produced to control the population, to make them feel that nothing they can do will effect the controls imposed upon their freedoms. Without elections, we have lost control, except of our local domains. National elections mean nothing. Local elections mean little more, except that locally, one might see that there appear to be too many opposed to the growing federal takeover, socialism, to believe the numbers being propagated. That is the danger of "Tea Parties" to the minority currently controlling the media and headed by the community organizer whose father was never a citizen.
I totally agree
That means a lot of unemployment checks will stop. Under 10% and it’s no longer 99 weeks.
If the unemployment rate is going down then why the massive exodus of people and jobs from the Golden State? Sacramento must be employing the same “fake” statisticians that are doing the national employment numbers every month.
Under 10% - awesome.
In the “new normal” era of Baraq this is called an economic boom.
RE: If the unemployment rate is going down then why the massive exodus of people and jobs from the Golden State?
It could be that those leaving the state could be the ones who are LOOKING for employment elsewhere. If the unemployed leave, it goes without saying that unemployment will fall.
It could also be that small business people are FLEEING the state for friendlier clime. That could explain the still near 10% unemployment in the state itself.
There is also one factor people fail to consider -— Do the Sacramento statistician follow the same way of counting the unemployed as the Dept. of Labor?
The DOL does not count the people who have GIVEN UP looking for work altogether. If the labor participation rate falls, the unemployment rate could fall too. This does not mean that people have found jobs. They have just given up.
Does California follow the DOL model of counting? If so, it is possible that there are thousands who have simply DROPPED OUT of the work force.