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CA UNEMPLOYMENT rate hits 12.1% as employers slash jobs –

September 17, 2011

Job seekers read pamphlets as they wait in line to enter a job fair in San Jose in August. California’s unemployment rate rose to 12.1% last month from 12% in July. (Justin Sullivan / Getty Images)

California unemployment rate hits 12.1% as employers slash jobs

State employers reduce payrolls in August for the second month in a row as they see signs of a faltering economy, pushing the jobless rate up from 12% in July.

By Alana Semuels, Los Angeles Times

September 17, 2011

Unsettled by signs that the recovery is stumbling, California employers in August cut jobs for the second month in a row, helping push the unemployment rate to 12.1% from 12% in July.

Payrolls fell by 8,400 positions last month, according to figures released Friday by the state Employment Development Department.

It’s a worrisome sign for California’s labor market, which has all but ground to halt. California has gained 98,500 jobs in 2011, but almost all of that hiring came early in the year. The state’s employers have added just 11,000 jobs since March.

The European debt crisis, the recent stock market slide and sluggish economic growth numbers have spooked employers, who are holding off hiring until they feel more confident about the future, analysts said.

via California unemployment rate hits 12.1% as employers slash jobs –

One Comment
  1. September 17, 2011 10:18 AM

    I love University of California (UC) having been a student and lecturer. But today I am concerned that at times I do not recognize the UC I love. Like so many Alumni, Donors, Legislators, and Californians I am deeply disappointed by the pervasive failures of UC senior management and regents.
    Californians suffers from 19% unemployment (includes those working part time, and those no longer searching), mortgage defaults, loss of unemployment benefits. And those who still have jobs are working longer for less. Chancellor/Faculty wages must reflect California’s ability to pay, not what others are paid.
    UC Berkeley (Cal) planned pay raises for generously paid Faculty is arrogance. UC Berkeley (ranked # 70 Forbes) tuition increases exceed national average rate of increase. Chancellor Birgeneau’s leadership molded Cal into the most expensive public university in the USA.
    Can we do better with a spirit of shared sacrifices by Faculty, Provosts, and Chancellors?
    (17,000 earn more than $100,000)
    No furloughs.
    18 percent decrease UCOP salaries, $50 million budget cut.
    18 percent prune chancellors’ salaries.
    15 percent trim tenured faculty salaries, increase teaching.
    10 percent non-tenured faculty pay decrease, increase research, teaching.
    100% elimination of Academic Senate, Academic Council budgets.

    There is no question the necessary realignments with reality will be painful.

    UC Board of Regents Chair Sherry Lansing can bridge the public trust gap with reassurances salaries reflect depressed California wages. With UC’s shared financial sacrifices, the sky above UC will not fall.

    Yours is the voice that can make the difference, email UC Board of Regents

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