Jobless rate plunges in Sacramento and California

Sacramento Bee ^ | June 22, 2013 | by Mark Glover

[Oldeconomybuyer]

The unemployment rate in Sacramento and California registered a significant drop in May for the second consecutive month, but analysts cautioned that the steadily improving numbers conceal a large number of people who are working in low-wage jobs or who are no longer firmly attached to the workforce.

The Sacramento area jobless rate fell to 7.8 percent in May, down from a revised 8.2 percent in April, according to statistics released Friday by the state Employment Development Department.

The statewide jobless rate dipped to 8.6 percent last month, down from 9 percent in April, 9.4 percent in March and 10.7 percent a year earlier.

[Rusty0604]

Some of that is capital gains. A few more weeks like this one in the stock market and things won’t be so rosy.

[21st Century Crusader]

Well they always announce first time filers for unemployment benefits, and the unemployment rate is a bunch of hocus pocus, because those that give up looking are not counted as unemployed.

[autumnraine]

Yes, they flag the filers, but that still doesn’t have much of anything to do with the ‘unemployment rate’, just another stupid statistic to make themselves look better. (or worse, which will never make the news)