Big jump in L.A. jobless

May unemployment increased to 11.6 percent in Los Angeles, a shade higher than the state's 11.5 percent level. The jobless rate is up from 10.9 percent in April. The U.S. rate was 9.4 percent. None of this was much of a surprise - just a gloomy affirmation of additional layoffs and very little hiring. Actually, June's numbers might even be worse because so many youngsters graduating high school and college are not finding work.

A separate payroll survey shows a loss of 14,500 jobs in L.A. County from the previous month. Included was the loss of 3,300 jobs in the government sector, though for some reason 400 state jobs were added to the rolls last month (isn't the state on the verge of running out of money?). This week, economists at the UCLA Anderson Forecast said unemployment in California won't be falling anytime soon. They expect it to peak at 12.1 percent in the fourth quarter of 2010, but remain in double-digits through 2011 (L.A.'s numbers are likely to run just a touch higher). The state with the highest unemployment rate in May was - not surprisingly - Michigan, at 14.1 percent. (EDD, BLS)


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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