California Unemployment Up To 12.2%
September 18, 2009
Unemployment numbers are out for California from the Bureau of Labor Statistics, and they are not looking good. California’s unemployment rate is up to 12.2% (August), a brutal number and a record level. The rate is up 30 basis points from July. Year-over-year, the rate is up 460 basis points.
Nevada also reached a record level while 25 other states saw increases in their unemployment levels. Other areas with above 10% rates include New York City (10.3%) and Washington D.C. (11.1%), all very good places to own real estate. Locally, the unemployment rates are as follows (July v June):
- Santa Clara County – 11.7%, down 10 basis points from the previous period.
- San Mateo County – 9.0%, unchanged from the previous period.
- San Francisco County – 9.9%, unchanged from the previous period.
On a side note, I know it’s tough out there and there have been a fair amount of layoffs in the commercial real estate sector. So if you are reading this and have a job opening you’re looking to fill, I’d be happy to post it on this site. The only requirement is the job be directly related to commercial real estate.
If I receive enough, I will be happy to add a separate jobs page. You can send them to me via via the form or email.
Similar Posts:
- Unemployment Rate Update
- September 2008 Unemployment Numbers
- Heading North – CA Unemployment Up To 12.5%; Santa Clara County 11.9%
- California Unemployment Up to 11.2%; Silicon Valley At 11% (!)
- California and Silicon Valley Unemployment Rate Numbers
Tags: New York City, San Francisco, San Francisco County, San Mateo County, Santa Clara County, Silicon Valley, Unemployment Rate, Washington D.C.
Wow–that’s high! It probably means there are a lot of good opportunities for real estate buyers and investors though.