California Businesses Continue To Shed Jobs – 68,000 More Jobs Lost In May
“The state lost 68,900 jobs in May as unemployment rose from a revised 11.1% in April and 6.8% in May 2008. This is the highest rate since the national record-keeping system began in 1976. Out of every four jobs lost nationwide since the recession began in December 2007, three have been lost by men.” (Marc Lifsher and Alana Semuels, “California Unemployment Rises To Record 11.5% In May,” Los Angeles Times, 6/20/09)
“Job losses slowed across much of the country last month – but not in California. In May, the state’s payrolls shrank at the fastest rate since February, wiping out 68,700 jobs, including more than 14,000 in the public sector, according to figures released Friday. Employment fell across all major sectors of the economy except health care, pushing the jobless rate to a modern record of 11.5 percent. Economists ticked off a familiar list of causes, from the housing bust and the contraction of the financial sector to a state budget crisis that’s soaking up federal stimulus dollars meant to goose the economy.” (Jim Downing And Darrell Smith, “California Jobless Rate Hits Record High In May,” Sacramento Bee, 6/20/09)
“California lost 68,900 jobs from April to May and 739,500 over the past 12 months. The county shed 14,500 jobs month-over-month and 183,600 in the past year.” (Gregory J. Wilcox, “California, LA County Unemployment Rates Rise Again,” Torrance Daily Breeze, 6/19/09)
Unemployment Rate Highest Since WWII
“Government statistics released Friday showed California’s unemployment rate at 11.5 percent in May, the highest since World War II, compared with 11.1 percent in April, representing a loss of 68,900 nonfarm jobs.” (Solomon Moore, “Disaster Request For A Drought-Hit County In California, New York Times, 6/20/09)
“California’s unemployment rate in May hit 11.5% — its highest level in more than three decades….” (Marc Lifsher and Alana Semuels, “California Unemployment Rises To Record 11.5% In May,” Los Angeles Times, 6/20/09)