CALIFORNIA BUSINESS MINUTE
Employment
12-19-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
Unemployment dropped to 11.3 percent according to the numbers released by the
State’s Employment Development Department. The unemployment level dropped four
tenths of one percent over the month for November.
Beyond this, the numbers illustrate that the state has created 233,100 jobs for
the year and that 6,600 were created in November. Unfortunately, there is no
discussion of the nearly 28,000 first time jobs claims and that the federal
survey identifies that during November, California created 116,000 jobs out of
an estimated 246,000 jobs created since the first of the year. It is hard to
imagine that nearly 50 percent of the jobs for the year were created in November.
Meanwhile, state figures identify that eight categories (mining and logging;
trade, transportation and utilities; information; financial activities;
educational and health services; leisure and hospitality; other services; and
government) added 34,800 jobs over the month. The sector Trade, Transportation
and Utilities posted the largest increase over the month, adding 18,000 jobs
out of the total 34,800 jobs.
Three categories (construction; manufacturing; and professional and business
services) reported job declines over the month, down 28,200 jobs. The sector
Professional and Business Services posted the largest decrease over the month,
down 13,200 jobs, losing nearly all of its gains from last month, as the sector
with the largest increase with 17,300 jobs. The state illustrates a net of
6,600 jobs for the month for a total of 233,100 jobs. This appears to be a more
logical progression of employment growth than that illustrated by the federal
survey.
However, the EDD press release fails to identify that the US Dept of Labor
identifies that first time claims jumped to nearly 28,000 for the week ending
December 3, 2011, a week that included part of November. This is the most
claims of any state in the nation for that week. However, the EDD press release
does recognize the there are more first time unemployment claims in November
2011 than in October 2011 and November 2010. Something lost in the press
release. There appears to be too much fuzzy math between state and federal
figures.
In the meantime, Marin County had the lowest unemployment rate at 6.9 percent
while Imperial had the highest at 27.2 down from last month’s 28.9 percent.
Both unemployment rates for these counties are down over the month. California
counties below or equal to the national unemployment rate of 8.60 included Marin,
Napa 8.6; Orange, 8.1; San Francisco 7.8; San Mateo 7.5; Santa Barbara 8.2.
Additionally, San Luis Obispo and Sonoma counties are very close at 8.8 and
8.9 percents.
I am Tim Johnson and this has been the California Business Minute.
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