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CNN yesterday gave out the true unemployment rate for California. It is 25.1% and expected to climb over the next 18 month. They clearly said, " Ca is not the place to be".
not sure about the "parabolic" part but it is a hard time to be looking for a job. What I find interesting is when Clinton was in office the unemployment rate goes down. When Bush takes office it starts heading up again until the economy falls apart. It will be George Bush's lasting legacy.
How did they arrive at that 25% rate? (I assume that that's including part-time workers and others who may or may not really be looking for a job but don't have one (e.g. stay at home parents)).
The California state budget is a disaster. The only way out of this mess will be to start having lots of stealth taxes appear. CA will continue dropping in population. The much higher tax rates will accelerate this trend.
There will be much better states to be living in than CA over the next decade. During the last big recession of the early 90's, it took CA over 5 years to fully recover while the rest of the nation moved back into prosperity much earlier. It will take even longer this time around due to the vast destruction in real estate prices in this state.
Ah - I justed realised where that 25.1% unemployment rate came from; that is for 1 city in California - El Centro. It is in fact the worst in the nation.
8 comments:
"Not a good time to be looking for a job." ... unless you work at LLNL.
CNN yesterday gave out the true unemployment rate for California. It is 25.1% and expected to climb over the next 18 month. They clearly said, " Ca is not the place to be".
not sure about the "parabolic" part but it is a hard time to be looking for a job. What I find interesting is when Clinton was in office the unemployment rate goes down. When Bush takes office it starts heading up again until the economy falls apart. It will be George Bush's lasting legacy.
How did they arrive at that 25% rate? (I assume that that's including part-time workers and others who may or may not really be looking for a job but don't have one (e.g. stay at home parents)).
The California state budget is a disaster. The only way out of this mess will be to start having lots of stealth taxes appear. CA will continue dropping in population. The much higher tax rates will accelerate this trend.
There will be much better states to be living in than CA over the next decade. During the last big recession of the early 90's, it took CA over 5 years to fully recover while the rest of the nation moved back into prosperity much earlier. It will take even longer this time around due to the vast destruction in real estate prices in this state.
Ah - I justed realised where that 25.1% unemployment rate came from; that is for 1 city in California - El Centro. It is in fact the worst in the nation.
Here it comes. Get ready:
California could be broke by July, state official warns - AP News, May 7
Has anyone noticed how many jobs there are advertised on the LLNL jobs page? A LOT! Mostly computer scientists.
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