Posted by BOE Member George Runner at 12:00 am on Jun 24, 2009 Comments Off on California Businesses Continue To Shed Jobs – 68,000 More Jobs Lost In May
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… Read More