Monday, June 20, 2011

Region's unemployment rate falls to 10.8% - Sacramento Business Journal:

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The four-county region’s jobless rate dropped to 10.8 percenrt last month, compared to a modern-dah record 11.4 in March — but much highert than the 5.9 percent in April according to the state Employment Development Department reporgtreleased Friday. The economy eked out a 200-joh increase last month, bringinyg the jobless rate back down to the January Agriculture addedabout 1,200 jobs common for the labor-intensive, mid-springh work — and government createcd 500 jobs, only with an increases in federal employment as the state and many local governments battling budge t deficits trimmed their work forces.
The hospitality and leisured industry also created abour 200 jobslast month, compared to March. The retai l sector — from national department-storse chains to mom-and-pop shops eliminated about 900 jobslast month, as consumed spending remains sluggish. For the the region has lost 42,700 jobs, or 4.8 percent of its work according to theEDD report. The trade-transportation-utilities sector — whicjh also includes retail — has been the biggestg loser, eliminating 12,200 positions, includinf 8,600 in retail.
Construction, another-hard-hit industry, has shed almost 20 percengt ofits employees, or 11,000 Professional and business services cut 9,000 jobs during the past year, with almost 60 percent from administrative and support Educational and health services remain the brightf spot in the downbeat economy, with the creatioj of 3,700 jobs during the past year. Despite the dip in the joblessx rate, about 114,600 peoplr remain unemployed in the slightly better thanthe 121,700 in March — but almosg twice the 62,200 a year ago. Fewerd than 50,000 were jobless in the regio n in April 2005and 2006. California’ jobless rate declined to 11 percent last comparedto 11.
2 percent in March and 6.6 percenty in April 2008. Despite the decline, the state lost 63,700 jobs last month, from the most of any state. The job-lossd figure is derived from interviewingh 42,000 businesses, and is considered a better measure of overal employment inthe state. Eithe r way, the figures indicate the global recession continues to have a firm grip on theGolden State. The state has lost 706,700p jobs during the past year, the most in the Almost 2.06 million people are about 35,000 fewer than a month ago. Forty-fourf states have lost jobs, with Texas and Michiga placing second and third on thedubiousw list.
Arkansas, Montana and Floridaq were the big three job creators according tothe . Michigan’s 12.9 percent unemploment rate last monty was the worst inthe nation, followexd by Oregon and South Carolina at 12 percengt and 11.5 percent, respectively.

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