Calif. Jobless Rate Dips Slightly, But Housing Recovery Sluggish

LOS ANGELES (CBS) — Amid all the rain pounding the Southland this week, there’s a ray of sunshine in the Golden State’s latest unemployment forecast.

KNX 1070’s Pete Demetriou reports the jobless rate dipped by .2 percent statewide — and even more locally.

After 96,500 jobs were created in February — with roughly half of the job increases coming nationally — California’s unemployment rate slid to 12.2 percent.

The Los Angeles/Long Beach region saw an even bigger drop to 12.6 percent, down from 12.9 percent in January.

Brad Kemp, a top employment expert at L.A.- based Beacon Economics tells KNX 1070 that despite the modest gains, it’s not all good news when it comes to a local recovery in the housing market.

“I don’t think we’re really going to see construction turn the corner anytime soon…the declining sector’s are going to continue to be construction and government,” said Kemp.

Analysts also say that even with the decrease in joblessness, it will still take several years before the state is back to the pre-2008 unemployment levels.

(©2010 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

  • Alan

    Education is #1. Tackling the economy and creating jobs is very important, but when the time comes for individuals and they don’t know how to interview it won’t do them much good because they won’t get the jobs that are being created.

    When someone is taught how to interview they feel empowered, they become so much more confident, they become inspired and motivated, they feel they can accomplish something that was unreachable. Millions of people need jobs and need to be taught how to find and interview for jobs, hopefully we can help millions of Americans and their families in these tough economic times.

  • CBSDebbie

    You can thank business/corporations for the economy today: outsource jobs, bring in immigrants on H1-B visas, use tax loopholes and buy off politicians. They’ve killed education, they’ve killed the American Dream, they’ve killed off the middle class.

    • skypilot

      CBSDebbie, you are 100 percent correct. I agree with you totally. Things will never be the same. Over the years, everything gets worse, including the environment.

  • Everyday Guy

    Businesses leave because of California’s high taxes and regulations. When offered an opportunity to move for lower taxes and less red tape, business will move. Blame yourselves California.

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