California unemployment rate rises to 11.2 percent

April 17, 2009 by · Leave a Comment
Filed under: Economic News 

Oregon also reported unemployment rising above 10% as well.   This is not good, the recession is long from over.   What I want to know is where we are going to produce all these news jobs we need to bring these numbers down?   The main problem I see is that many of the jobs losses were in areas of the economy that I don’t see coming back (Finance, Insurance and Real Estate).   Some will be gained in the short term in the construction sector with the government infrastructure spending but this again is not sustainable unless we continue to spend the same amount on more projects.

News (Reuters):

  California’s unemployment rate rose to 11.2 percent in March from a revised 10.6 percent in the prior month and 6.4 percent a year earlier as job losses spread across most of the state’s industry, a state report said on Friday.

The national unemployment rate in March was 8.5 percent.

California, the most populous U.S. state, lost 62,100 nonfarm payrolls jobs in March from February and its nonfarm employers shed 637,400 jobs from a year earlier, which marks a decline in the state’s nonfarm payrolls of 4.2 percent, the report by the state’s Employment Development Department said.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!