SoCal job growth slows

SoCal job growth slows

Unemployment line depression“California’s back!” is Gov. Jerry Brown’s re-election slogan. Certainly, in some areas, such as Silicon Valley, where the Great Recession hardly hurt.

But in much of the rest of the state, stagnation still is the order of the day. That’s better than when Brown took over four years ago, so he has that going for him. But it’s still not the robust recovery the state needs.

The Orange County Register reported:

Job growth in Los Angeles and Orange counties slowed markedly last month [July], while California as a whole continued to outpace the nation.

In July, Los Angeles County counted 69,200 more jobs than it had a year earlier, an increase of only 1.7 percent, according to state employment officials.

Orange County’s payrolls, which grew rapidly last year, ticked up only 1.6 percent in July over the year before, adding 22,500 positions.

“The pace is slowing,” said Chapman University economist Esmael Adibi. “That is worrisome if it continues.”

July was the first month of the new state $9 minimum wage, up from $8. That could not have helped. We’ll see how much it digs in over the coming months. and it goes to $10 in 2016.

Unemployment figures for July:

  • U.S. 6.2 percent;
  • California 7.4 percent (unchanged from June);
  • L.A. County 8.1 percent (unchanged).

A decent recovery drops unemployment below 5 percent. Brown likely will cruise to re-election. But opponent Neel Kashkari might score some votes with his campaign message that the recovery, such as it is, has left a lot of people behind.

3 comments

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  1. whitehousesmugguy
    whitehousesmugguy 19 August, 2014, 18:08

    It is Bush’s fault and Reagan. That is settled science.

    Reply this comment
  2. Richard Rider
    Richard Rider 20 August, 2014, 11:16

    More From this month’s BLS Report (excellent graphic comparing CA with TX at link below):

    a) Texas added more than 1,000 jobs every day over the last 12 months, a total payroll increase of 396,200 from July 2013 to July 2014.

    b) Texas payrolls increased in the last two months (+77,000) by more than the net increase in California payrolls since December 2007 (see chart above).

    c) Texas added more than 15 workers to the state’s payrolls since December 2007 for every one worker added to payrolls in California (1,078,600 net new jobs in Texas vs. 69,400 net new jobs in California, see chart above).
    FROM THE CARPE DIEM BLOG:

    http://www.aei-ideas.org/2014/08/monday_afternoon_linkage818/
    Item #10

    Reply this comment
  3. Queeg
    Queeg 20 August, 2014, 12:19

    We are saturated with services, services, services and resulting low productivity and low per capita income resulting in putrid velocity of money turnover and weak capital investment…etc…etc….growth…..

    A giant peasant class is the result serving the globalist and government worker cabals(they are happy).

    Only through manufacturing, fracking, exports do you see a change in your much talked about morass…..but…..the globalists and government workers squash this stuff….wonder why……

    Reply this comment

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Jerry BrownJohn Seilerunemployment

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