LA Times: California job losses continue to climb

[marmar]

California job losses continue to climb
Job losses for September are higher than expected and almost six times greater than in August, state officials say. L.A. County joblessness soars to 12.7%.

By Alana Semuels

October 16, 2009 | 12:29 p.m.


California posted higher-than-expected job losses in September, a sign that the state's employment woes continue even amid indications of a broader economic recovery.

Employers cut 39,300 workers from their payrolls last month, according to figures released this morning by the state Employment Development Department. That's nearly six times the number of jobs the state now says were lost in August, led by cuts in construction and government.

A separate survey of joblessness showed that California's unemployment rate was 12.2% in September, down from a revised 12.3% in August. The unemployment rate in September 2008 was 7.8%.

"It is discouraging," said Esmael Adibi, an economist at Chapman University. "We want to see job losses go down and the pace slow down, but we didn't see it."

California's unemployment rate is well above the national rate of 9.8%.

The state's job losses were especially pronounced in construction, which lost 14,100 jobs over the month, and government, which lost 12,700.

Cutbacks in government employment, which includes public schools, are partly to blame for the state's lackluster performance this month, said Stephen Levy of the Center for the Continuing Study of the California Economy. ............(more)

The complete piece is at: http://www.latimes.com/business/la-fi-caljobs17-2009oct17,0,3782619.story

[asdjrocky]

1. Somewhere on Wall St. and in DC someone is making another nickle on those job cuts.

But hey, we hit 10,000 right? Happy days are hear again.

[Auggie]

2. California will get hit when ARM options reset too

Many of these loans were made in California. The next few years will be ugly.

[XemaSab]

3. California is becoming a massive ghetto

:(

[asdjrocky]

4. I almost wrote exactly the same thing.

My niece is doing everything she can right now to hold onto her job, and her forth grade class in Oakland.