I find it interesting that the news was posted late Friday afternoon, after news cycle for the week was over. The
story at the Los Angeles Times was posted at 4:59 pm Friday.
California's employers created 29,100 net jobs in August, but the
unemployment rate edged up for the second month in a row, climbing to
8.9% from 8.7% the month before, the state's Employment Development
Department reported Friday.
The jobless rate has
climbed nearly half a percentage point since June even as employers have
added nearly 57,000 jobs to their payrolls during that time.
Friday's data painted a tepid picture of the Golden State's economy,
which has hit a soft patch during the summer months, economists said.
The labor force has declined by 65,000 people since June.
"The labor market appears to
be going sideways," said Robert Kleinhenz, chief economist at Los
Angeles County Economic Development Corp. "We see a month of improvement
and maybe a month of retrenchment, and that's a discouraging story to
report."
Wait until O'BamaCare kicks in. Then folks will have
real discouraging stories to report. We should start seeing those stories October 15, 2013. There are reasons employers are not hiring: most important -- a) keep overall number of employees below 50 is approaching that threshhold; b) shift full-time to part-time wherever possible.
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