Home and Garden – Banner
Stop High Speed Rail – Banner
Today
It is forecast to be Chance of Rain at 7:00 PM PDT on April 25, 2015
Chance of Rain
60°/46°
Home » Santa Clarita News » Economic Pause That Doesn’t Refresh

Economic Pause That Doesn’t Refresh

LAEDCCoca-cola used to refer to drinking their beverage as “The pause that refreshes.”

Dr. Nancy Sidhu, Chief Economist for the Los Angeles County Economic Development Corporation, says economic numbers for July indicate a “pause”, and it’s hardly refreshing.

“The recovery paused to take a break. I’m not sure what August will bring. Certainly (in) August there’s been a lot of fireworks in the financial markets and that suggests that there could be another pause,” Sidhu said.

Nancy_Sidhu

 

The LACED reports unemployment rate “upticks” from June to July. In the case of California, the June unemployment rate rose from 11.8 percent to 12.0 percent. The Los Angeles County jobless rate climbed from 12.0 percent to 12.4 percent.

The good news, which Sidhu admits is not all that good — but better, is that compared to July 2010 the numbers have improved.

The California jobless rate has dropped from 12.4 percent to 12.0 percent and Los Angeles County unemployment has dropped from 12.7 percent to 12.4 percent.

“So, there’s progress there, but it’s very slow. And indeed that’s the pattern that we’ve been seeing for much of this year, slow progress, but some progress. And only if you step back and look at a distance,” Sidhu said.

California’s unemployment rate of 12.0 percent makes it the second highest rate in the nation. Nevada has the dubious distinction of having the highest unemployment rate of 12.9 percent.

“If we want to worry, as someone said recently, look east. There are worse problems than here.” said Sidhu.

Nationally the jobless rate is 9.1 percent.

Despite the pause, Sidhu says she’s not ready to make changes in the LACED forecast of modest gains in employment for this year and better next year.

Economic Pause That Doesn’t Refresh

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

About KHTS AM 1220

Academy Swim Club – News Banner
Beyond Harmony – News Banner
AV Party Rental – News Banner
College Of The Canyons – News Banner
All American Bail Bonds – News Banner
Action Family Counseling – News Banner
Hugo Naturals – News Banner
High Speed Rail – News Banner
Manzanillo Restaurant – Tile
Adage IT – Tile
Action Family Counseling – Tile
Brent’s Carpet One – Tile
LA Zoo – Tile – Contest
Simply Taylored – Tile