CA Unemployment Rate Falls Below 11% for the first time in 3 years (unemployment benefits, income)

[18Montclair]

Yeah yeah, we need more jobs, but this is most welcomed news.

California unemployment rate falls below 11% in January - latimes.com (http://www.latimes.com/business/money/la-california-unemployment-rate-falls-20120308,0,6626075.story - broken link)

[BayAreaHillbilly]

Unemployment is a useful first order, brute force metric.

But the summed unemployment - underemployment figure is more telling. Many have long fallen off unemployment assistance rolls but still don't have work or have only partial work.

Not that I'm asking for this, but if we had the type of ongoing "dole" with no time limit they have in Europe, the "unemployment" figure would be a more truthful reflection.

[yowps3]

But in Europe thy only get a fraction of what you get.. My famil member gets the $450/Pw on unemployment benefits..

In Europe it's more like $100/pw

[ZhugeLiang]

Yeah, underemployment tells just as much of the story if not more than unemployment. I wish we would shrink the amount of time that someone could live on the public dole. I can only imagine the millions of Californians, let alone Americans double dipping by collecting unemployment while working off the books.

[user_id]

Originally Posted by BayAreaHillbilly

But the summed unemployment - underemployment figure is more telling.

Why? The underemployment rate, namely the U-6 measure of unemployment, is always higher than U-3, the rate you typically hear in the news.

Is the spread between U-6 and U-3 higher today than in the past? Not really, so why is it more telling?

Originally Posted by BayAreaHillbilly

Many have long fallen off unemployment assistance rolls but still don't have work or have only partial work.

The unemployment rate isn't based on unemployment benefits....

[ferretkona]

Remember that the EDD count is on open claims.
People who no longer qualify are not counted in that 11% count.

[user_id]

Ugh....the the state unemployment rate is not based on unemployment benefits..... This is a myth that refuses to die....

[BR44]

Originally Posted by user_id

Ugh....the the state unemployment rate is not based on unemployment benefits..... This is a myth that refuses to die....

Then what's it based on? Where can I find the data that drives this number??

[Visit a Library]

Originally Posted by BayAreaHillbilly

Unemployment is a useful first order, brute force metric.

But the summed unemployment - underemployment figure is more telling. Many have long fallen off unemployment assistance rolls but still don't have work or have only partial work.

Not that I'm asking for this, but if we had the type of ongoing "dole" with no time limit they have in Europe, the "unemployment" figure would be a more truthful reflection.

Indeed. As long as one can still go out and find people with MS's working as store clerks or serving food, we're still in a deep recession, no matter how the state government massages the numbers.

[french paris]

Originally Posted by yowps3

But in Europe thy only get a fraction of what you get.. My famil member gets the $450/Pw on unemployment benefits..

In Europe it's more like $100/pw

The unemployment benefits depends of your country.It's different in each country.
In France it's 55% of your income.If your earn 4000 E a month ,you get 2200 E a month for....2 years ( 3 years for people aged 50 and more)