State unemployment rate holds at 12.5 percent

March 26, 2010

California’s unemployment rate continues to hold at 12.5 percent, according to February statistics released by the U.S. Department of Labor. [Los Angeles Times]

By contrast, the state’s unemployment rate was 10.2 percent one year ago.

The new figures for California reflect a similar flattening of the national unemployment rate at 9.7 percent for the first two months of 2010.

Economists say that employers remain reluctant to expand their payrolls, despite hopeful signs of increased activity in retail sales, international trade and manufacturing.


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7 Comments

  1. willie says:

    Simply ask employers why they don’t (reluctant) hire.
    There is a complex and simple answer.
    The simple one is “no money!”

    (1) 1 Total Votes - 1 up - 0 down
    • willie says:

      I am willing to bet, that if put to a vote, people are willing to scrap the existing labor law and start over!
      This may help.

      (0) 0 Total Votes - 0 up - 0 down
  2. willie says:

    As of today there are about 4.5 million in foreclosure or 90 days behind in mortgage payments (nationwide). That is two times more than last year. Most of these homes are over valued.
    Unemployment is blamed as the cause. The government’s goal is to get these people employed so that 4.5 million families will not become homeless and meltdown the corporate economy again.
    It does not look good.

    “Economists say that employers remain reluctant to expand their payrolls, despite hopeful signs of increased activity in retail sales, international trade and manufacturing.” (THIS IS A NO BRAINER!)

    (3) 3 Total Votes - 3 up - 0 down
  3. Booty JuJu says:

    The official Underemployment Rate, as estimated by the CA EDD, is 22%.

    (4) 4 Total Votes - 4 up - 0 down
  4. Booty JuJu says:

    Utter bollocks. Add in those who have fallen off the rolls still-unemployed and those who have taken part time work at Walmart for the employee discount on the cat food they are now subsisting on, and the REAL unemployment rate approaches 25%.

    (1) 3 Total Votes - 2 up - 1 down
    • Cindy says:

      Booty, I don’t believe the actual UER is any way near as high as you suggest. The Fed’s have been subsidizing the UE, these extensions now reach all the way out to 99 weeks. So in the last two years people who would have fallen off of the UE rolls have remained for an additional 70 weeks. Most UE are being counted.

      (-1) 3 Total Votes - 1 up - 2 down

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