Posted on 07/18/2009 11:18:27 AM PDT by ProtectOurFreedom
Silicon Valley's unemployment rate soared in June to 11.8 percent, its highest level in nearly 60 years, as the region lost more manufacturing jobs, many of them in the tech industry.
The good news in a rather bleak picture is that the valley gained enough jobs in other areas, such as professional and business services and the hospitality industry, to make up for those losses.
The picture statewide was worse. California lost 66,500 jobs during the month, according to a report released Friday by the state Employee Development Department. While California's unemployment rate remained unchanged at 11.6 percent, there are currently 2.1 million people looking for work statewide.
In the past year, the state has suffered the worst percentage decline in jobs since before World War II.
"We remain in deep recession mode," said Stephen Levy of the Center for Continuing Study of the California Economy.
Economists warned that joblessness in the state and valley will continue to climb well beyond the end of the recession, as companies focus on increasing profits before a return to hiring.
(Excerpt) Read more at mercurynews.com ...
The idiots in Sacramento still refuse to connect this employment debacle to their foolishness such as AB32, high government wages and pension benefits, ultra-greenism, and the worst business climate in the nation.
It sounds like the Obama Manifesto is right on track.
You know who they’ll vote for? Meg Whitman, who, in the midst of this economic recession— never shuts up about “diversity”. Seriously watch her speak DIVERSITY INCLUSION DIVERSITY TOLERANCE lol. As if that’s California’s big problem right now.
Yeah, I read that Silicon Valley went big for Ubama. I hope unemployment goes to 50% there. Those people deserve to lose their jobs, their homes, and their families. (spit) Screw them.
The good news in a rather bleak picture is that the valley gained enough jobs in other areas, such as professional and business services and the hospitality industry, to make up for those losses.
Uh, if they had in fact "made up" for the losses...then they would not be setting new unemployment records...
The good news in a rather bleak picture is that the valley gained enough jobs in other areas, such as professional and business services and the hospitality industry, to make up for those losses.
OK, so unemployment in Silicon Valley surges, but jobs were gained in other areas of Silicon Valley to make up for it, lol.
Do these bots even read what they excrete?
They’re always trying to find some silver lining as we totally melt down.
If we had NOT lost the mfg jobs AND added the service jobs, then total employment would be up.
It took all of my self-control to bite my lip. But bit it I did; I rarely talk to those schmucks these days.
How many H1-B’s got laid off I wonder....
So the valley LOST manufacturing jobs but was lucky enough to GAIN HOTEL MAIDS!!! Gee, keen!
Add 10% to that number and you get closer to the “real” unemployment number in the Valley
Excuse me ... I happened to be one of them ...
Ditto. Just ignore him.
How many in your area voted for the One and why do you think that they did?
My son is one of them and about to lose his home. I’ve been trying to get him to leave CA for years, but his wife’s family, all native Californians (and all democrat-voting), are there and she wouldn’t leave...she may change her mind now, though.
70% voted for the anointed one in Santa Clara County vs 29% for Juan. Why did they do that? Who knows? BDS was in full throated roar around here for a couple years. The CA economy was doing very well, house prices were soaring in ‘06 to early ‘08.
The bigger question is why have the urban areas of CA shifted so much from traditional American values to Democrat values. Dems have a lock on the legislature and we are a complete fiscal basket case.
My native Californian wife whose family is all there doesn’t let a day go by without reminding me she want to get the heck out of the state she no longer recognizes.
Baghdad Bob denial syndrome...”Yes Americans there is no Recession here!”
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