“Not good,” is the simplest way for Dr. Nancy Sidhu, Chief Economist for the Los Angeles County Economic Development Corporation (LAEDC), to describe California’s unemployment picture.
Statewide unemployment numbers edged up slightly from July to August 12.0 to 12.1 percent and in Los Angeles County 12.3 to 12.5 percent.
Sidhu says the slight change in figures makes it difficult for her to determine a trend.
“I’m not sure how to intepret whether that increase is real or not, but it’s not good,” Sidhu said.
Don’t miss a thing. Get breaking news alerts delivered right to your inbox.
The difference between August 2010 and August this year is also too small for her to qualify this as a major change.
“I think the best thing we can say is that we are making no progress on the unemployment front,” said Sidhu.
Sidhu addressed uncertainty among small business owners and what they need to see in order to start hiring.
“For them, I think they need to see a combination of higher sales in their own shop, and happier customers and better headlines,” Sidhu said.
Perhaps trying to produce better headlines herself, Dr. Sidhu said there were five key sectors that showed unambiguous growth:
- International Trade
- Health Care
Those with good jobs, Sidhu says, are starting to spend money on tourism and entertainment.