Truthdig - Ear to the Ground - California Jobless Rate Tickles 12%

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California Jobless Rate Tickles 12%

wfxl.com

California has lost 760,200 jobs over the last year.

Talk of an economic rejuvenation in recent weeks got a sobering smack in the face Friday as California’s jobless figures were released. The Golden State’s unemployment rolls reached 11.9 percent in July, a post-World War II high.

Los Angeles Times:

California’s jobless rate reached a fresh post-World War II high in July, climbing to 11.9%, a sobering reminder that though the nation’s deep downturn may be nearing its end, the state’s employment woes are far from over.

Golden State employers cut their payrolls by 35,800 jobs in July, according to figures released Friday by the state Employment Development Department. That’s a significant improvement over monthly losses that averaged 76,000 over the first half of the year.

Still, July’s numbers were worse than some analysts had expected, rising from 11.6% in June and led by declines in trade, construction and manufacturing. Even with the rise in unemployment here, however, a consensus is growing that the worst of the recession may be over.

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By ChaoticGood, August 23 at 12:28 am #

11.9 percent today and of course, as usual, this number does not include the tens of thousands of people whose unemployment checks have run out. They are NOT COUNTED.

Nor does it count the thousands who are technically employed because the definition of employment is that you worked at least 1 HOUR FOR PAY during the last week!!! Those lucky people who worked 1 hour last week are not counted either.

It also does not show the underemployed who cannot get full time only part-time employment. Those are not counted either.

So first of all the unemployment rate is at least double that which is reported. The real rate is over 20% right now and climbing.

Now lets factor in the fact that we have not even begun to forclose on all the commercial property that has turned “toxic”.

Next, how do you think the upcoming “Christmas Season” retail sales are going to look this year?

We haven’t reached bottom yet, so we will look back at the “good ol’days” when unemployment was only 11.9 percent.

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By Dominic Son, August 22 at 3:34 pm #
(Unregistered commenter)

It’s all boils down to one’s own true talents. That’s why friends and others can help give insights and reflections based on how one expresses themselves through their cover letter and resume (check out resumerace.com). Its time to evolve and look within people! Do what you love and truly enjoy as supposed to being a slave to $$$. Yes, that means it may have to cost you your iphone or nice car (in the short term)…

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By Dominic Son, August 22 at 3:31 pm #
(Unregistered commenter)

We must look within, instead of always looking outwards and looking for any jobs there are. That’s why friends and others can help give insights and reflections based on how one expresses themselves through their cover letter and resume (check out resumerace.com). Its time to evolve and look within people! Do what you love and truly enjoy as supposed to being a slave to $$$. Yes, that means it may have to cost you your LV bag or bimmer (in the short term)…

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