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THE MINUTE
CALIFORNIA BUSINESS MINUTE Employment 02-27-09
Hi, I am Tim Johnson and welcome to the California Business Minute.
Californias unemployment rate increased from 9.3 to 10.1 percent in January according to data released by the California Employment Development. It is the first time in more than twenty five years that the states jobless rate has moved into double digits.
The number of people unemployed in California last month is estimated at 1,863,000 up by 257,000 over December, and up by 754,000 compared with January of last year. Of the unemployed, 990,600 were laid off, 126,700 left their jobs voluntarily, and the remaining were either new entrants or reentrants into the labor market, or persons who completed temporary jobs, according to the federal household survey.
While the EDD has figures for the entire state, it stated in its press release that it has been too busy updating its annual benchmarks to Bureau of Labor statistics requirements to break out any county-level figures other than for Los Angeles County. The other 57 counties figures are due to be released March 5. The California Business Minute will post those numbers upon their release
The U.S. unemployment rate in January was 7.6 percent.
I am Tim Johnson and this has been the California Business Minute.
YOUR WEEKEND EDITION
Not enough time in the week to read the Daily, don't fret, spend '10 with Tim' at the Week in Review. See it under the Week in Review at Economic Overview. And you thought he was only a Minute Man!
