California Unemployment Up to 11.2%; Silicon Valley At 11% (!)

Last month we posted several pieces of data concerning unemployment in California as forecasted by the UCLA Anderson Forecast, in which they predicted that California Unemployment would peak at around 11.9% by mid-2010.

The EDD (Employment Development Department) is out with it’s March 2009 numbers, and California unemployment is already at 11.2%, up .7% from February’s 10.5%.

The unemployment rate one year ago was at 6.4%, indicating a nearly 500 basis point increase YoY! The biggest job losses, YoY came from Construction (-18.4%), Manufacturing (-7%), Transportation (-5.9%), and Professional and Business Services (-4.8%). The only industries which added jobs were education and health services, and farming.

In Silicon Valley, the EDD is reporting:

The unemployment rate in the San Jose-Sunnyvale-Santa Clara MSA was 11.0 percent in March 2009, up from a revised 10.2 percent in February 2009, and above the year-ago estimate of 5.3 percent. This compares with an unadjusted unemployment rate of 11.5 percent for California and 9.0 percent for the nation during the same period. The unemployment rate was 16.2 percent in San Benito County, and 10.8 percent in Santa Clara County.

Similar Posts:

• California Unemployment Rate Hovers at 12.4%
• California Unemployment Rate Skyrockets From 8.4 to 9.3% in One Month
• 533K Layoffs Nationwide in November; California, Silicon Valley Unemployment Rate Update
• Heading North – CA Unemployment Up To 12.5%; Santa Clara County 11.9%
• California and Silicon Valley Unemployment Rate Numbers

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