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Old 09-16-2011, 11:09 AM
 
5,113 posts, read 5,972,261 times
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California's unemployment rate increases again

SACRAMENTO -- California's jobless rate grew for the second straight month in August to 12.1 percent, up one-tenth of a percentage point from the previous month.
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Old 09-16-2011, 11:17 AM
 
25,619 posts, read 36,701,448 times
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Shocking I tell you just shocking.

Especially given the fact that the true UE number is hoovering around 20%.

No I'm not gonna cite any reports. Look it up for yourself in the Feds labor statistics.
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Old 09-16-2011, 11:24 AM
 
5,113 posts, read 5,972,261 times
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Quote:
Originally Posted by Bulldogdad View Post
Shocking I tell you just shocking.

Especially given the fact that the true UE number is hoovering around 20%.

No I'm not gonna cite any reports. Look it up for yourself in the Feds labor statistics.
Yep, they finagle the numbers by not counting people who are under employed (temp work or working for lower wage than your qualified for) and they don't count discouraged people who they claim "gave up" looking for work. Actually the 20% is probably a low number with the actual unemployment more like 25-30% ... and growing fast.

The 99 weeks of unemployment has run out for many and more are expiring on a continuing basis. This people are using up savings and tapping out credit cards and then they hit hard times.
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Old 09-16-2011, 11:42 AM
 
7,150 posts, read 10,898,467 times
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Quote:
Originally Posted by Don9 View Post
Yep, they finagle the numbers by not counting people who are under employed (temp work or working for lower wage than your qualified for) and they don't count discouraged people who they claim "gave up" looking for work. Actually the 20% is probably a low number with the actual unemployment more like 25-30% ... and growing fast.

The 99 weeks of unemployment has run out for many and more are expiring on a continuing basis. This people are using up savings and tapping out credit cards and then they hit hard times.
Yes ... and soon it will be 100% and Donnie will be outta work and unable to pay for his internet ... our loss will be devastating!
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Old 09-16-2011, 11:52 AM
 
Location: Earth
17,440 posts, read 28,602,920 times
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Quote:
Originally Posted by nullgeo View Post
Yes ... and soon it will be 100% and Donnie will be outta work and unable to pay for his internet ... our loss will be devastating!
And you can thank an investment banker, a hedge fund manager, or a CEO who insanely hoards money the way a crazy old woman hoards cats instead of spending it and creating new jobs for the high unemployment rate.
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Old 09-16-2011, 11:59 AM
 
7,150 posts, read 10,898,467 times
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Quote:
Originally Posted by majoun View Post
And you can thank an investment banker, a hedge fund manager, or a CEO who insanely hoards money the way a crazy old woman hoards cats instead of spending it and creating new jobs for the high unemployment rate.
Great! I see my "Hate an Investment Banker" campaign is bearing fruit already!
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Old 09-16-2011, 12:09 PM
 
12,823 posts, read 24,402,599 times
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In spite of much hype about a supposed "high tech recovery" (which is mostly just some ap vaporware start ups) the long and steady loss of normal middle class jobs continues unabated.
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Old 09-16-2011, 12:10 PM
 
12,823 posts, read 24,402,599 times
Reputation: 11042
Quote:
Originally Posted by Bulldogdad View Post
Shocking I tell you just shocking.

Especially given the fact that the true UE number is hoovering around 20%.

No I'm not gonna cite any reports. Look it up for yourself in the Feds labor statistics.
Freudian slip? LOL!
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Old 09-16-2011, 12:18 PM
 
Location: Los Altos Hills, CA
36,659 posts, read 67,526,972 times
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Unfortunately this is part of the national trend:
Unemployment Rates Up in Most States - Real Time Economics - WSJ

California is not special in that we are the only state with rising unemployment. In fact btwn May and August, CA had an increase of .4% in joblessness, while TX experienced a .5% increase in joblessness

CA went from 11.7% to 12.1% and TX went from 8.0% to 8.5%.
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Old 09-16-2011, 12:28 PM
 
5,113 posts, read 5,972,261 times
Reputation: 1748
Quote:
Originally Posted by nullgeo View Post
Yes ... and soon it will be 100% and Donnie will be outta work and unable to pay for his internet ... our loss will be devastating!
Unfortunately you are probably correct this time ... I probably will be laid off within the next 12 months. Our company has been laying off over the past years and project more going forward. My son just got word his program was cut and now he is in jeopardy. I'm more concerned about him since he is young, married with two young children.
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