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Unemployment rate rose to 5.6 percent last month
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More from Breaking NewsVentura County's job market continued to see signs of softening last month, with particularly weak showings in manufacturing and construction.
The unemployment rate edged up to 5.6 percent in May from a revised 5.2 percent in April, the state's Employment Development Department reported today. The latest unadjusted figure also exceeds the 4.3 percent estimate for May 2007.
A total of 24,200 people were seeking work in May, up 32.2 percent from 18,300 a year ago and 8 percent from 22,400 in April.
The manufacturing sector fell to 36,400 jobs in May, losing 100 jobs month to month and 2,100 jobs from a year ago.
Construction, hit hard by the housing downturn, was flat in comparison to April, but down year over year by 2,200 — the biggest annual loss among all sectors.
Most other industries posted minor gains and losses from month to month. Gains were reported in government, 200; leisure and hospitality, 100; other services, 100; education and health services, 100; and trade, transportation and utilities, 100. In addition to manufacturing, losses occurred in financial activities, 100; and professional and business services, 100.
While civilian employment increased by 100 to 407,900 last month, the number of out-of-work people jumped 1,800, a result of recent graduations and more people entering the labor force.
There weren't any surprises, said Abel Alcocer, an EDD labor market consultant.
"All the declines were expected," he said. "We were forewarned that we'd see a jump in unemployment, which we expected to see in construction and manufacturing" because of the ongoing turmoil in the housing market.
Posted by brwnbear on June 20, 2008 at 1:40 p.m. (Suggest removal)
SO DO YOU THINK THERE GOING TO OFFER EXTENSIONS TO ALL PEOPLE THAT WERE LAID OF BECAUSE OF THE CONSTRUCTION MARKET DOWNTURN.
Posted by FedUp on June 20, 2008 at 1:52 p.m. (Suggest removal)
"The manufacturing sector fell to 36,400 jobs in May, losing 100 jobs month to month and 2,100 jobs from a year ago."
This area will continue to go down as our country continues to send manufacturing jobs overseas. Not a good thing.
"Construction, hit hard by the housing downturn, was flat in comparison to April, but down year over year by 2,200 — the biggest annual loss among all sectors."
Keep in mind, this only includes the amount of people who pay federal and state taxes. No way of knowing how many of these jobs were already replaced by someone taking less money, under the table.
Posted by jbh50 on June 20, 2008 at 6:25 p.m. (Suggest removal)
...and I suppose the fact that California is a unfriendly state for businesses to setup has nothing to do with it.
Of course not. C'mon you fruit jobs all together now... "Bush lied, jobs died". "Bush lied, jobs died". C'mon ladies I can't HEAR you.....
Posted by mikeb6804 on June 20, 2008 at 9:33 p.m. (Suggest removal)
jbh50--don't wait for jw to join you in the cheer. He isn't smart enough to read your invitation. He also isn't smart enough to realize unemployment has been lower in the Bush years than it was in the Clinton years.
jw--don't come back with your typical tripe -- look it up!
Posted by ebrockway on June 20, 2008 at 10 p.m. (Suggest removal)
Jay Dubya1000;
Is your typical knee-jerk lib. Wasn't shouting CONGRATS at the record low unemployment all these years. But see a little slide and it's from the rooftops
Posted by ebrockway on June 20, 2008 at 10 p.m. (Suggest removal)
Jay Dubya1000;
Is your typical knee-jerk lib. Wasn't shouting CONGRATS at the record low unemployment all these years. But see a little slide and it's from the rooftops
Posted by ebrockway on June 20, 2008 at 10:02 p.m. (Suggest removal)
whoops, don't click twice
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