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California jobless rate slides, but state adds just 8,500 new jobs

Los Angeles Times ^ | 10/19/2012 | Marc Lifsher

Posted on by SeekAndFind

SACRAMENTO -- California's unemployment rate fell to 10.2% in September from 10.6% in August, the second-largest drop in the nation.

But just 8,500 net new jobs were created, according to the California Employment Development Department.

The two statistics show somewhat different monthly trends because the unemployment rate is based on a survey of households while the total employment number comes from a more accurate check of businesses.

The California results tracked national Department of Labor figures, released Oct. 5, that showed the national unemployment rate falling by three-tenths of a percentage point to 7.8% -- its lowest level in 3 1/2 years -- but only 114,000 net new jobs being created nationally.

Part of the discrepancy is likely due to long-term unemployed people no longer seeking new jobs; people being forced to work part-time when they seek full-time jobs; and others identifying themselves as "self-employed," though they have little income, experts said.

Friday's California results are "really a reflection of the national unemployment number" with some softening of job-creation, said Dennis Meyers, principal economist for the California Department of Finance.



(Excerpt) Read more at latimes.com ...

TOPICS:

Business/Economy

Culture/Society

News/Current Events

US: California

KEYWORDS:

california

jobless

unemployment





To: SeekAndFind

Nice try, L.A. Times. We know the truth.



by 2 posted onby stephenjohnbanker ((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))

To: stephenjohnbanker

It might be true; the mass exodus of Americans from CA, coupled with replacement illegal aliens that don’t show up as part of the population figure, might indicate that while less Californians are in the workforce today, the pool of Californians has shrunk as well. I think the numbers are BS as well; they’re not deceiving people who have watched their standard of living fall to that of a Somali.



by 3 posted onby kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)

To: SeekAndFind

The BLS’s method of unemployment calculation as an indicator for the nations economical health is just plain tantamount to treason. We have “no man left behind for our military”.

We have “no child left behind” for our children. Why in the hell can’t we have “no job left behind?” Because unemployment insurance compensation (UIC) has run out, or just because someone who is willing to work full-time has been relegated to minimal part-time work is no reason to leave these people out of the mix of “how bad is our unemployment problem.” It is criminal, it is treasonous and serves only to bolster the ethereal performance of a Democrat President, while liberally modified to cast any Republican President in a bad light. If it were me, I’d keel haul everyone of them sumbiches in BLS. No snorkel.



To: kearnyirish2

” It might be true; the mass exodus of Americans from CA, coupled with replacement illegal aliens that dont show up as part of the population figure, might indicate that while less Californians are in the workforce today, the pool of Californians has shrunk as well.” This part is true. ” I think the numbers are BS as well;” Pure BS.



by 5 posted onby stephenjohnbanker ((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))

To: SeekAndFind

With only 8,500 new jobs added, it moved the jobless rate needle. Which tells us, at most 100,000 people worked in the whole CA. Tops. /



To: SeekAndFind

I bookmarked this a day or so ago (waiting for such an article so I could post it)For what it’s worth. New Developments on Federal Unemployment Extensions

(Updated October 16, 2012) Updated: Number of individuals who have run out of benefits is now over 891,300. http://www.edd.ca.gov/Unemployment/Federal_Unemployment_Insurance_Extensions.htm



by 7 posted onby tsowellfan (KEEP WORKING like we are 10 POINTS DOWN!!!!)

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