LA Jobless Rate Stuck In Double Digits
LOS ANGELES (CBS/AP) — The national unemployment rate dropped sharply in January to 9 percent, but Los Angeles and the rest of California saw virtually no improvement.
With unemployment hovering around 13 percent locally, the region continues to have a tough time rebounding from the recession — and some blame high taxes and over-regulation for the reluctance of firms to do business in the Golden State.
KNX 1070’s Pete Demetriou reports many Angelenos believe the state’s financial viability is a big factor in attracting new jobs.
A recent Labor Department survey of company payrolls across the U.S. showed 36,000 net jobs created — barely a quarter of the number needed to keep pace with population growth.
“What we’re finding is that there are a lot of folks that are saying that they are starting new businesses or they are self-employed,” said Labor Secretary Hilda Solis. “That doesn’t always get reflected in the payrolls survey.”
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