Tuesday, June 23, 2009

Still bleeding jobs

California's unemployment rate climbed to 11.5 percent in May, the highest in modern record-keeping, the U.S. Department of Labor reported Friday. The loss of another 69,000 jobs comes as a blow to the state after unemployment dipped slightly to 11.1 percent in April, according to revised figures. The California Employment Development Department said the government posted the largest job declines in the month, down by 14,200 jobs. Every other sector besides education and health services also saw losses.

Although the Labor Department reported that 48 states and the District of Columbia saw their unemployment rates rise in May, California's rate was substantially higher than the national rate of 9.4 percent for the month.

Only four states had higher rates: Michigan, Oregon, Rhode Island and South Carolina.

The West had the highest regional jobless rate in the nation, at 10.1 percent, and it was the highest rate since September 1983, when the nation was emerging from a deep recession.


From The Press-Enterprise: The unemployment rate for Riverside and San Bernardino counties was 13 percent in May, up from a revised 12.7 percent in April and equaling the all-time high set in March.
A year ago, unemployment in the two-county area was estimated at 7.4 percent. This compares with an unadjusted unemployment rate of 11.5 percent for California and 9.1 percent for the nation during the same period. The unemployment rate was 13.1 percent in Riverside County and 12.8 percent in San Bernardino County.


13% and climbing in the IE! Yikes.....


Tyrone said...

And the beat goes on...

DETROIT – About 4,000 more salaried workers at General Motors Corp. will lose their jobs by the end of the year as the automaker continues to downsize.

The company notified its more than 27,000 U.S. white-collar workers by e-mail Tuesday that that it will offer standard severance packages, and employees near retirement age will have the opportunity to retire early, spokesman Tom Wilkinson said.

Todd said...

So what happened to Obama's "stimulus" capping unemployement at 8%? It was supposed to reach a high of 9% without it and now he's saying it will top 10% on a national level. Do politicians really wonder why we the people don't trust them anymore?

Rt.66 said...

Most of the folks I know who are out of work do not show up in the Gov. figures. Real Estate flippers, independent contractors like realtors and brokers and independents in construction. Also, contractors and "used to be" small business owners.

A good chunk of job creation over the past decade has been from the FIRE economy which lead to lots of people making a living in the above mentioned areas.

In CA the unemployment numbers are much worse than what is published.

Adrian Smith said...

Well I'm going to call a top to these unemployment figures, since housing clearly bottomed this month.

cameron said...

I'm seeing a terrific uptick in the real estate business in the Corona Riverside market.

Things are better than ever for buyers right now.

Cameron Novak
Corona Riverside Real Estate Agent

boxrs4sale said...

Wow. I just went to Cameron's website...


Their success blue print is nothing short of hysterical.

I encourage everyone to read..

Maybe that is why Realtors charge so much ! The work the do is very labor intensive/time consuming..

-order for sale sign installation
-place lock box on door.

Now if that isn't a recipe for success, I don't know what is !!!!

Nothing here to see folks... keep moving.

Jason said...


That is one sweet web site there Cameron! I am absolutely exhausted after reading your blue print for suckass.

golfer_X said...

I tried to warn him in the last thread. But he just didn't listen....

I do agree with you guys. The website leaves a lot to be desired.