California unemployment rises to record 11.2 percent (on its way to ???)

Reuters on Yahoo ^ | 4/17/09 | Jim Christie

[NormsRevenge]

SAN FRANCISCO (Reuters) – California's unemployment rate rose to a record 11.2 percent in March and analysts expect job losses across most industries in the most populous U.S. state to increase through much of this year.

"This is the worst recession since the Great Depression and it's not over," economist Steve Levy said on Friday shortly after the state released its March unemployment report.

"We have at least six more months of job losses," added Levy, of the Center for the Continuing Study of the California Economy.

At 11.2 percent, California's jobless rate was well above the March national unemployment rate of 8.5 percent and at its highest level since the U.S. government began collecting state unemployment statistics, Levy noted.

California's unemployment rate last month also rose significantly from a revised 10.6 percent in the prior month and 6.4 percent a year earlier as job losses spread across most of the state's industries, Levy said.

He added that California is facing steep job losses at the same time its ranks of prospective workers swell.

[RipSawyer]

“gee - I wonder if $9 an hour minimum wage has anything to do with it?”
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

I would suspect not a lot, even though I am not a supporter of minimum wage laws, $9.00 an hour in California is a pauper’s wage not even equal in buying power to the 1963 minimum wage of $1.25. It would seem that the influx of illegals would have a lot more to do with it.

I suspect that the real unemployment figures are even worse bearing in mind that every one hired by the government is counted as employed when in reality most of them are just a huge burden on the taxpayers, producing nothing of value and in far too many cases they are COUNTER productive. Personally I think a new government hire should be counted as TWO UNemployed rather than one employed.

[Joan Kerrey]

California unemployment rises to record 11.2 percent

---

Wow!!!! We need to raise taxes and increase spending immediately. Business must not be allowed to get away with layoffs. Legislation needs to be passed immediately stopping all layoffs or increasing fines of twice a person’s annual salary if the person is laid off. Perhaps consider jail time for employers who shut down businesses or moving out of state.

[Freedom_Is_Not_Free]

Seismically induced...