August 20, 2005

THE WONDERS A GOP PRESIDENT AND GOVERNOR CAN PERFORM FOR CA:

State Adds 29,900 Jobs Last Month: The jobless rate declines to 5.1%, its lowest since May 2001. The Bay Area, previously lagging behind other regions, also posts gains in July. (Bill Sing, August 20, 2005, LA Times)

California employers revved up their hiring engines in July, adding a net 29,900 jobs while driving the unemployment rate to its lowest level in four years, the Employment Development Department reported Friday. [...]

The job increase was nearly double the revised 16,600 net jobs added in June and topped the average 17,500 monthly increases for the last two years. It also beat the 28,900-a-month average during the 1993-2001 boom, said Employment Development Department spokesman Kevin Callori.

July's 5.1% jobless rate, down sharply from June's 5.4%, was the lowest since May 2001. California now has the fewest unemployed since June 2001, another milestone in the state's recovery from the 2001 recession, which hit California harder because of its dependence on the battered technology sector. In May, the Golden State hit another milestone by surpassing the employment level in January 2001, the peak from the last cycle.

The state's jobless rate now is only 0.1 percentage point higher than the nation's — closer than it ever was during the roaring 1990s, said Stephen Levy, director of the Center for Continuing Study of the California Economy in Palo Alto. California's jobless rate has consistently towered over the nation's because of the state's larger proportion of younger workers and immigrants, who tend to have higher unemployment levels, Levy said.


So they cured that immigrant problem?

Posted by Orrin Judd at August 20, 2005 12:00 AM
Comments

No, they just put 'em to work - building houses, apparently.

Posted by: Michael Herdegen at August 20, 2005 10:15 AM
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