Posted on 03/26/2010 10:54:48 AM PDT by Touch Not the Cat
California's unemployment rate held steady at 12.5 percent in February, although the state lost 20,400 jobs, the Employment Development Department reported Friday.
The state's loss followed a gain of 32,000 jobs in January. There are 586,400 fewer jobs in California last month than there were at the same time last year, a drop of 4.1 percent.
The department said many of the losses last month occurred in the construction industry, which lost 21,500 jobs. Professional and business services grew more than any other sector, gaining 10,000 jobs.
"Far too many Californians remain unemployed, and that is why I am so glad I signed legislation this week to bolster job creation," Gov. Arnold Schwarzenegger said, referring to his homebuyer tax credit and green technology sales tax exemption proposals.
"However, more must be done, and I encourage the Legislature to keep up the good work and pass the additional elements of my California Jobs Initiative so we can get people off the unemployment rolls and into the work force," Schwarzenegger said.
The national jobless rate also remained unchanged in February at 9.7 percent. Michigan's jobless rate is still the highest among all 50 states, at 14.1 percent.
The relative stability in jobs and unemployment shows that the economy is moving from down to flat, on a painfully slow path toward job growth, said Steve Levy, director of the Center for Continuing Study of the California Economy.
"March and April should bring better news, both in the state and in the nation as we expect small job growth in both areas," Levy said. "We see signs outside the job market that this slow recovery is happening. There's more trade at the ports, there's more traffic at the airports, there's more tourism."
(Excerpt) Read more at cbs2.com ...
Where are the jobs, Mr. Obama?!
CA is in deep do do. They have only made the situation worse by raising taxes and fees and increasing enviromental restrictions. Meantime they are busy spending money on phoney “green” projects and “renewable energy”.
When will it end. CA Bonds and city bonds should be downgraded again with the additional obligations of Obamadontcare.
Ahnald Shwartzpigger?
I was going to say "you're a Google offered tool," but I didn't know if you watched "The Office." One of the few television shows I watch (generally don't watch TV, but the guys at work quote it regularly).
(*if you don't add what George Bush left them to contend with)
.
Are we supposed to be CELEBRATING that 12.5 number???
Good grief!
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