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Old 05-01-2011, 02:31 AM
 
3,853 posts, read 12,869,001 times
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Lets hear your explanation as to why the unemployment rate is so high.
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Old 05-01-2011, 02:41 AM
 
Location: California
37,135 posts, read 42,228,838 times
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Doesn't CA have the largest population? What's Nevada's excuse?
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Old 05-01-2011, 02:59 AM
 
Location: Escondido, CA
1,504 posts, read 6,153,287 times
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Obviously, Nevada, California, and Florida were the three states that experienced biggest housing bubbles, and they ended up with large numbers of unemployed former construction workers and a lot of inventory overhang. Under normal circumstances, residential construction is the first sector to come out of slump after the recession, and it pulls all others. In California (as well as in Nevada & others), we're still a long way from that point.

I'm more curious why Rhode Island is in the top 5.
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Old 05-01-2011, 04:15 AM
 
3,853 posts, read 12,869,001 times
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Quote:
Originally Posted by Ceece View Post
Doesn't CA have the largest population? What's Nevada's excuse?
In terms of unemployment rate population NUMBER is not relevant. Unemployment rate is the PERCENTAGE of people unemployed.
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Old 05-01-2011, 09:30 AM
 
5,113 posts, read 5,974,132 times
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Quote:
Originally Posted by esmith143 View Post
Obviously, Nevada, California, and Florida were the three states that experienced biggest housing bubbles, and they ended up with large numbers of unemployed former construction workers and a lot of inventory overhang. Under normal circumstances, residential construction is the first sector to come out of slump after the recession, and it pulls all others. In California (as well as in Nevada & others), we're still a long way from that point.

I'm more curious why Rhode Island is in the top 5.
California's unemployed is not dominated by home construction workers. Home construction is one of the areas that utilize a large number of illegal aliens. The economic downturn was caused by people spending money they didn't have, on credit, which was artificially growing the economy. It was a credit bubble caused by government and the lending institutions.

The reason why California has the highest unemployment is because California allowed the credit bubble corruption to occur. The state government agencies didn't do anything to regulate or prevent the illegal activity and as a result we had in some cases, people with no job, no money, buying homes, cars, and a boat load of other luxuries on credit with no capability to pay it back. This was artificially growing the economy at a fast pace and the politicians benefited from the growth. As we got closer to the end, the recession, the problems got worse. California is in worst shape because of corrupt politics and government and allowing it all to happen. The states that are in good shape are the states that didn’t allow this corruption to happen, they responsibly governed their state.

Last edited by Vascodagama; 05-01-2011 at 09:43 AM..
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Old 05-01-2011, 09:41 AM
 
Location: San Diego, California Republic
16,588 posts, read 27,398,000 times
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This is a sad day for me. I actually am agreeing with Don9. However esmith still does have a point too. The illegals are well represented in the construction business but not by that much. The credit and lending is what really brought the economy down though. After those homes were built, people took out loans they really couldn't afford then defaulted like crazy. Just look at the number of foreclosures in any given city for proof of that.
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Old 05-01-2011, 09:49 AM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,779,981 times
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Quote:
Originally Posted by Don9 View Post

The reason why California has the highest unemployment is because California allowed the credit bubble corruption to occur. The state government agencies didn't do anything to regulate or prevent the illegal activity and as a result we had in some cases, people with no job, no money, buying homes, cars, and a boat load of other luxuries on credit with no capability to pay it back. This was artificially growing the economy at a fast pace and the politicians benefited from the growth. As we got closer to the end, the recession, the problems got worse. California is in worst shape because of corrupt politics and government and allowing it all to happen. The states that are in good shape are the states that didn’t allow this corruption to happen, they responsibly governed their state.
What did North Dakota government agencies do that California didn't?
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Old 05-01-2011, 10:05 AM
 
5,113 posts, read 5,974,132 times
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Quote:
Originally Posted by Charles View Post
What did North Dakota government agencies do that California didn't?
How many people live in North Dakota by choice? Probably 350K
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Old 05-01-2011, 10:06 AM
 
Location: SW MO
23,593 posts, read 37,489,025 times
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Quote:
Originally Posted by killer2021 View Post

Lets hear your explanation as to why the unemployment rate is so high.
Because a whole bunch of people are out of work!
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Old 05-01-2011, 10:15 AM
 
Location: San Diego, California Republic
16,588 posts, read 27,398,000 times
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Quote:
Originally Posted by Curmudgeon View Post
Because a whole bunch of people are out of work!
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