In the month of April, California’s unemployment rate dropped to 11.0 percent from the prior month’s 11.2 percent. As the most populous state and with a double-digit unemployment rate, California is well above its earlier year level of 6.6 percent. The national rate for April was 8.9 percent according to the Employment Development Department. California has the world’s eighth largest economy has been hit hard by the recession and credit crunch. This was marked by sharply lower home prices across the markets, very little home construction, and many foreclosed homes.
As anxiety about layoffs grows, consumer spending has declined. In forecasting the future, economist Steve Levy exclaims that the rate will remain high because the state’s labor force is growing while payrolls decline. California plunged deeper in April and this month’s data doesn’t clearly reflect getting better. The stimulus programs will be the deciding factor in the weeks to come.
California's nonfarm payrolls shed 63,700 jobs in April from March and 706,700 positions from a year earlier, or 4.7 percent of its nonfarm payrolls. Some sectors have added jobs, such as California’s natural resources and mining sectors as well as some government industry categories.
i'm planning on doing what 3,000 homeowners are doing each month...moving. Now picture 3,000 people moving out of california each month...that should lower the unemployment rate right...negative. people in California see these an opportunity to hire illegals at a cheaper wage. This is a bad thing, for those people who are still here. Like my self. That's why i'm praying to all types of gods. I think California is in dire need of another eathquake. N i'm not talking about a 4.0 i'm talking about anything over 7.0 Earthquake. That i believe will bring jobs back to California, that and get rid of all the illegals.
