After showing signs of slow improvement in recent months, statistics released from the Employment Development Department this morning show that unemployment in Long Beach has grown to 14.5% as of January. The data has not been seasonally adjusted.
In December 2009, unemployment seemed to be improving in Long Beach. After several months of ranking at 13.9%, December saw unemployment improve to 13.4%. Statistics released today, however, show that things have taken a turn for the worse. Long Beach's 14.5% unemployment rate easily surpasses the Los Angeles County rate of 13.4%.
Approximately 34,000 out of a labor force of 235,000 in Long Beach are out of work.
Update 5:45pm Here is a really fun page I stumbled upon that shows how the state of California borrows from the Federal Government to pay unemployment because the state's own unemployment fund has been "unsustainable" since July 2008. As of January 2010, California had borrowed more than $7.5 billion to fund unemployment.
Update 6:15pm While the spike in local unemployment likely had to do with post-Holiday seasonal layoffs, Pacific Gateway Workforce Investment Network (PGWIN) executive director Bryan Rogers told the LBPOST.com this afternoon that new challenges are arising in the workforce that are keeping those numbers high.
"We're seeing certainly a lot more challenges in sectors that we hadn't in the past," Rogers said. "It's a tough go across the board. You've definitely got more job-seekers than there are jobs. But there are jobs."
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That is a stunning number.
Yep, and I'm one of them! Got laid-off from Boeing on November 20th. Got a very nice severance package, but still looking for work. Good thing I moved in with the girlfriend (now my wife!) before TSHTF!
ReplyDeleteWow, drjim. I'm sorry to hear that. The ex-Lady just lost her job too. It's brutal out there. I wish you and everyone in your situation luck out there.
ReplyDeleteWait, did you get married, like, last weekend??
On Valentine's Day. I now have NO excuse to forget our anniversary! My former employer had expressed some interest in having me come back, and I'm *supposed* to get an interview with them, but it's been a little over two weeks since I sent them my resume, and I haven't heard from them.
ReplyDeleteBeen doing some radio work and printed circuit board design for a small local outfit, but that's hit-or-miss.
Just glad the wife has an excellent job with very good benefits.
Don't forget how many teachers will lose their job come June in the LBC. The district has given 1,000 layoff notices though I anticipate the actual number will be closer to 500.
ReplyDeleteStill, they will have to cut millions more the following year. Some of those teachers live in LB and spend their money here, or did.
LB Unified I believe is the third or fourth largest employer in this city. Don't be surprised to see that unemployment number rise in the next year.