The Conservative Cave
Current Events => Economics => Topic started by: thundley4 on April 18, 2009, 04:20:21 PM
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"SAN FRANCISCO, April 17 (Reuters) - California's unemployment rate rose to a record 11.2 percent in March and analysts expect job losses across most industries in the most populous U.S. state to increase through much of this year.
"This is the worst recession since the Great Depression and it's not over," economist Steve Levy said on Friday shortly after the state released its March unemployment report.
*snip*
California's increase in unemployment has outpaced the national rise also because the state's labor force has been growing quickly at the same time payrolls have been shrinking.
Over the past 12 months, 335,000 new job seekers joined the state's labor force and "became instantly unemployed," Levy said." Link (http://uk.reuters.com/article/marketsNewsUS/idUKN1734119920090417)
WTF? All I have heard about is people leaving Califruitopia, where did these new "job seekers" come from? Are illegal aliens standing around the Home Depot counted?
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Nope--it's worse than that even.
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Wasn't it San Fransissyco that was giving homeless druggies $800 a month for whatever? With an inducement like that and unemployment, a fellow could stay pretty high for a while.
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It's to the point where the "automated" system for filing claims is swamped and can't even keep up, so the actual figure might even be higher than this.
When you increase income taxes, sales taxes, fees, registrations, etc., don't be surprised when business ups and leaves ya, Cali--or did you not learn that in the early 90's?
Last taxpayer out, turn off the lights.
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Last taxpayer out, turn off the lights.
...and will the last illegal alien in please weed the garden.
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"SAN FRANCISCO, April 17 (Reuters) - California's unemployment rate rose to a record 11.2 percent in March and analysts expect job losses across most industries in the most populous U.S. state to increase through much of this year.
"This is the worst recession since the Great Depression and it's not over," economist Steve Levy said on Friday shortly after the state released its March unemployment report.
*snip*
California's increase in unemployment has outpaced the national rise also because the state's labor force has been growing quickly at the same time payrolls have been shrinking.
Over the past 12 months, 335,000 new job seekers joined the state's labor force and "became instantly unemployed," Levy said." Link (http://uk.reuters.com/article/marketsNewsUS/idUKN1734119920090417)
WTF? All I have heard about is people leaving Califruitopia, where did these new "job seekers" come from? Are illegal aliens standing around the Home Depot counted?
A good portion of the new unemployed are probably high school and college graduates.
Some sectors are pretty bad, and they just raised sales tax to 9.25% at the beginning of April. For now, my grandparents are here, and they are getting older so I definitely want to stay near them. Plus, my parents are here, I like living close to them. My job is about as secure as it can be since I'm currently the lowest paid worker on my team, but I have high work quality, so I'm not too terribly worried, but I've lost some good coworkers to layoffs.