California unemployment rate climbs to 11.9 pct

Newsjock

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Fri Aug-21-09 01:44 PM
Original message

California unemployment rate climbs to 11.9 pct

Source: Associated Press

California's unemployment rate climbed to 11.9 percent in July, the highest number in modern record-keeping.

That's an increase from 11.6 percent in June and considerably higher than the jobless rate of 7.3 percent a year ago.

The U.S. Department of Labor also reported Friday that 87,000 Californians lost jobs last month.

... The hardest-hit county in the state was Imperial with an unemployment rate of 30.2 percent, followed by Yuba, Merced and Trinity counties.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/08/21/financial/f090327D44.DTL&tsp=1

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earthside

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Fri Aug-21-09 01:54 PM
Response to Original message

1. The Stock Market Likes This Number!

The Dow is up about 130 points!

It means that companies are cutting labor costs so as to increase profits ...

The 'recovery' has started!

:sarcasm:

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moonbatmax

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Fri Aug-21-09 05:33 PM
Response to Reply #1

6. Don't forget productivity!

Cut labor costs, boost worker productivity, make more money!

I wrote a big, rambling essay on the subject in another thread, if you really want to brighten your day.

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Lucky Luciano

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Fri Aug-21-09 07:43 PM
Response to Reply #1

7. Trust me - if unemployment went down unexpectedly there

would be a big stock market rally.

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CountAllVotes

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Fri Aug-21-09 01:56 PM
Response to Original message

2. Recovery is right around the corner

NOT!

:dem: :kick:

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David__77

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Fri Aug-21-09 02:02 PM
Response to Original message

3. Wow oh wow...

Sitting here in Sacramento, it's crazy. I do indeed know some unemployed people, but luckily they're holding on ok financially. I think with this, you're either insulated, or you're not.

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mnhtnbb

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Fri Aug-21-09 03:43 PM
Response to Original message

4. Unemployment in CA was 9.5% in 1975 when I finished graduate school.

Edited on Fri Aug-21-09 03:44 PM by mnhtnbb

I thought that was bad! I was the last person in my very small class (12) to get a job--in October--
after getting the degree in June.

Good luck to everybody looking for a job.

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moonbatmax

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Fri Aug-21-09 05:28 PM
Response to Original message

5. I hate to think what their unemployment comp. might be.

Is California still handing out IOUs to everyone?

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