California unemployment reaches 10.1%

[Kadie]

State unemployment reaches 10.1%
Tom Abate, Chronicle Staff Writer

Friday, February 27, 2009


(02-27) 12:01 PST SAN FRANCISCO -- California's unemployment rate hit 10.1 percent in January, the highest level in 26 years, as more than 1.8 million state residents looked for work last month without success.

A state Employment Development Department report issued Friday said California employers eliminated 79,300 payroll jobs in January. Since January 2008, the state has lost 494,000 payroll jobs as California's losses in this economic downturn continue to exceed the nation's.

The U.S. unemployment rate in January was 7.6 percent.

The EDD said the California's unemployment rate during the modern era peaked at 11 percent at the end of 1982 during another severe recession.

more...
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/27/BU38166G72.DTL&tsp=1

Here are the top 3 responses at SFGate...

Thank you George W. Bush.

Legacy of Bush and the corrupt banking and real estate industries. Thanks for nothing!

And it will only get worse. Thanks George Bush. You are the man if you didn't know that.

[Cleita]

1. You can't only blame Bush for all of that. Arnold had a big part with his

gubernatorial mismanagement.

[Alias Dictus Tyrant]

2. It was coming eventually

Seriously, California governance is so atrociously wasteful and counterproductive, and has been for so long that this was an inevitable outcome. This is not just the Republicans' fault either, the Democrats in California are pretty thoroughly corrupt as well. If you look at what it costs California to do something and what it costs many other states to do the exact same thing, it is no wonder we are burning money hand over fist with no results to show for it. And it gets worse year after year, compounded by an impenetrable morass of even stupider regulations, many of which are counter-productive or contradictory.

I've been in the San Francisco area for a very long time, but to be frank I am at this very moment working on moving my new venture out of California. I have resisted for a long time because I like it here, but this state has been circling the bowl for as long as I can remember and the state has made no significant effort to stop that death spiral. It is simply too expensive to do business in the state. It would be one thing if the people in California were getting something for all that money and regulation, but they are not, the special interests in the government abuse the people of the state for their own ends. There are plenty of other blue states that are not nearly as far gone as California that are more than happy to have my business. In my case, that will probably end up being Seattle.

[Urban Prairie]

3. Welcome Californians, to double-digit unemployment!!

From us (remaining) Michiganders...

:hug:

[Oregone]

4. Oregon is 9.9% now also...

Their economy was very dependent on California. Their housing market thrived from Californians re-locating. Southern Oregon became a bastion of those moving up in the last 5 years (and the changes were very apparent. This is going to be hard for everyone. We will see 15% nationwide by the end of this year. Hopefully 15% will be the bottom, not 20%+