State - Companies across the United States stepped up staff layoffs in February, feeding the latest set of grim unemployment statistics during this nationwide economic decline. The United States lost an estimated 778,000 jobs in February- the biggest one-month loss of the recession so far. 2.1 million jobs, or 1.6 percent of the nationwide workforce, have been lost in the last three months. This is the biggest loss since February of 1975. It is estimated that an additional 650,000 jobs will be lost in the next four to six months. Statewide, the jobless rate exceeds 10 percent for the first time in 26 years, forcing many homeowners into foreclosure if no action is taken. California’s unemployment rate was 10.1 percent in January, and nonfarm payroll jobs declined by 79,300 during the month, according to the California Employment Development Department. Unemployment statistics in Amador County are not seasonally adjusted, but rates in neighboring counties are a good indicator of what to expect. Both El Dorado and Sacramento county rates stand above 8 percent as of January 2009. On the bright side, California’s State Employment Development Department announced Tuesday that it began sending recipients of unemployment benefits an additional $25 a week in payments, thanks to the new stimulus bill signed into law in Washington D.C. two weeks ago. Although job losses increase, the latest Spherion employment report indicates that the statewide employee confidence index rose 5.5 percent to 43.2 percent in January. The monthly survey of California workers indicates that more workers believe that it is unlikely they will lose their jobs and more workers have confidence in their ability to find a new job. And despite the grim economic statistics Americans hear almost daily, a new poll shows high approval for President Barack Obama and his administration. A new NBC News/Wall Street Journal poll shows Obama has a 60 percent approval rating with 67 percent favorability- even though 76 percent of those surveyed also think the economy will continue to get worse. In California, 65 percent of registered voters approve of the job Obama is doing, compared with 21 percent who do not. Among voters non-affiliated with the two major parties, 69 percent are favorable towards Obama. Opinions about Obama’s economic stimulus plan are more polarized, with 52 percent of the voters approving while 36 percent disapprove. Obama’s plan to use the government to jolt the economy back to life signals the most significant ideological shift in Washington since President Reagan took office in 1981. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
Wednesday, 04 March 2009 23:23
Grim Unemployment Statistics
State - Companies across the United States stepped up staff layoffs in February, feeding the latest set of grim unemployment statistics during this nationwide economic decline. The United States lost an estimated 778,000 jobs in February- the biggest one-month loss of the recession so far. 2.1 million jobs, or 1.6 percent of the nationwide workforce, have been lost in the last three months. This is the biggest loss since February of 1975. It is estimated that an additional 650,000 jobs will be lost in the next four to six months. Statewide, the jobless rate exceeds 10 percent for the first time in 26 years, forcing many homeowners into foreclosure if no action is taken. California’s unemployment rate was 10.1 percent in January, and nonfarm payroll jobs declined by 79,300 during the month, according to the California Employment Development Department. Unemployment statistics in Amador County are not seasonally adjusted, but rates in neighboring counties are a good indicator of what to expect. Both El Dorado and Sacramento county rates stand above 8 percent as of January 2009. On the bright side, California’s State Employment Development Department announced Tuesday that it began sending recipients of unemployment benefits an additional $25 a week in payments, thanks to the new stimulus bill signed into law in Washington D.C. two weeks ago. Although job losses increase, the latest Spherion employment report indicates that the statewide employee confidence index rose 5.5 percent to 43.2 percent in January. The monthly survey of California workers indicates that more workers believe that it is unlikely they will lose their jobs and more workers have confidence in their ability to find a new job. And despite the grim economic statistics Americans hear almost daily, a new poll shows high approval for President Barack Obama and his administration. A new NBC News/Wall Street Journal poll shows Obama has a 60 percent approval rating with 67 percent favorability- even though 76 percent of those surveyed also think the economy will continue to get worse. In California, 65 percent of registered voters approve of the job Obama is doing, compared with 21 percent who do not. Among voters non-affiliated with the two major parties, 69 percent are favorable towards Obama. Opinions about Obama’s economic stimulus plan are more polarized, with 52 percent of the voters approving while 36 percent disapprove. Obama’s plan to use the government to jolt the economy back to life signals the most significant ideological shift in Washington since President Reagan took office in 1981. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
