Sunday, September 4, 2011

California Employment Hits a Record Low -- Not Likely To Recover For Several Years -- Not a Bakken Story

Link here.

Every paragraph in the linked story is bad, bad news.
The percentage of working-age Californians with jobs has fallen to a record low, and employment may not return to pre-recession levels until the second half of the decade, according to a research group.

Just 55.4 percent of working-age Californians, defined as those 16 or older, had a job in July, down from 56.2 percent a year earlier and the lowest level since 1976.

California’s 12 percent unemployment rate in July, the nation’s second-highest after Nevada, compared with 9.1 percent nationwide.

Women have disproportionately trailed men in regaining jobs.

“Women represent nearly half of the workforce,” Anderson said in a telephone interview. “They gained just one of the 10 jobs added.” 
I won't even begin to comment.