29,200 CA Jobs Lost In May

Katy Grimes:  The Bureau of Labor Statistics reported today, “the largest over-the-month decrease in employment occurred in California,” with the loss of 29,200 jobs in May.

And while some news outlets are reporting that California’s unemployment is down, the actual BLS report states, “Nevada continued to register the highest unemployment rate among the states, 12.1 percent in May. California recorded the next highest rate, 11.7 percent.”

Add this bad employment news to the dropping home prices in California, even looking through rose-colored glasses at California’s unique attributes, and it’s difficult to see much in the way of recovery in the state’s near future.

JUNE 17, 2011

 

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  1. econprof
    econprof 18 June, 2011, 11:02

    In a month or two CA will have the nation’s highest unemployment rate.
    NV has been improving rapidly–not so CA.
    NV unemployment fell from 12.5% to 12.1%.
    CA went from 11.8% to 11.7%.
    Rust belt Michigan already passed us; now Nevada is about to. Congratulations to our job-killing government taxes and regulations.

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