Posted on 08/19/2011 6:38:02 PM PDT by SeekAndFind
Reporting from Sacramento— California's unemployment rate increased in July while job creation slowed to a crawl, fueling fears that the state's fragile recovery is faltering.
The jobless rate last month ticked up to 12% from 11.8% in June, according to figures released Friday by the state Employment Development Department. California now has the second-highest rate of unemployment in the nation, trailing only Nevada at 12.9%, and its jobless rate is well above the U.S. average of 9.1%.
The July hiring picture was bleak. California employers added just 4,500 new jobs last month, a steep drop from the revised 30,400 jobs added in June.
"The California economy is treading water. It's growing but not fast enough to create net new jobs," said Scott Anderson, a senior economist at Wells Fargo Securities. "The recent knock in consumer and business confidence could be enough to tip California back into recession."
Analysts said California was performing worse than the nation largely because of its real estate hangover. When the property bubble burst, it wiped out 1.3 million jobs, many of them in construction, real estate and mortgage-related financial services. Those sectors have yet to recover.
And while pockets of the Golden State are doing well, including San Diego's bio-sciences companies and technology firms in the Bay Area, their growth hasn't been strong enough to pull California out of its jobs hole.
The state's fiscal woes are also proving to be a drag on employment. The public sector is a major employer in California, which in the past has acted as bulwark during tough times. But deep budget cuts are forcing many local governments to shed workers this time around.
(Excerpt) Read more at latimes.com ...
Isn’t that Maxine Water’s district. I guess she’s still waiting to be unleashed before complaining about this failure.
Columbia, SC (WLTX) - The unemployment rate rose in South Carolina, from 10.5 percent in June to 10.9 percent in July.
http://www.wltx.com/news/article/148086/2/Why-Did-the-Unemployment-Rate-Rise-
She knows whatever 0 does or fails to do will reflect heavily on her reelection chances. She must throw him under the bus or face angry electorate ready for revenge......
No worries. CA just needs to man up and “stay the course”. Its only a matter of time before a potent combination of gay indoctrination, environmental regulations, freebees to illegals, and higher taxes fixes all these problems!
Yup—no doubt about it.
i believe the rate is more like 30%
Unexfarkingpected!
Have no fear, Moonbeam is on da job.
Soak the rich! (but leave my employer alone. I need the job).
More Environmentalist, unions and regulators are required to completely destroy state.
http://www.americanthinker.com/2011/08/obama_and_the_perry_miracle.html
You reap what you sow......soon enough we will need a new generation of Bowie’s and Crockett’s
San Diego is producing. That idea of seceding is looking better.
That's just it she won't be accountable , she has the right melanin content and she's a member of the black carcass. Plus it's the land of the fruits and nuts. The Kenyan has to face angry voters from red states , so he's entirely beatable.
I think we play into the "Progressives'" hands by continuing to use the "official" (manipulated) numbers. They act like people who "drop out" (are thus not counted) of the job hunt give up eating.
Just desserts for the Socialist Paradise!
I live in Cali and between the fruits, nuts and exodus of businesses, the GIANT SUCKING SOUND is deafening.
Democrats have TOTAL CONTROL hence the downward spiral.
DemRATs bought’em a high-speed rail ticket to Hell,
and jerry brown’s got his hand on the throttle.
Not to worry, the high speed rail will crate 500,000 jobs. No, 500,000 jobs a month unless Zero encounters some “bad luck” again. Damn that luck, darn aliens that Moonbeam called in from space to combat global warming took all the jobs. Oh wait a second, unemployment and food stamps generate jobs, so sayeth the advisors of “The One”. We’ll increase unemployment to 50% so we can create at least 500,000 jobs a month, who will become unemployed and create even more jobs. Yeah, Moonbeam and The One should jump right on it when Moonbeam returns to reality and The Foodstamp President returns from vacation.
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