State’s Unemployment Rate Rises in March to 12.6 Percent
(Editor’s Note: Here is how the state Employment Development Department portrays the March increase in unemployment – as a subhead to the addition of 4,200 jobs to a workforce of at least 13,842,000.)
California’s Nonfarm Payroll Jobs Increase by 4,200
Unemployment Rate Increases to 12.6 Percent
SACRAMENTO – California’s unemployment rate was 12.6 percent in March and nonfarm payroll jobs increased by 4,200 during the month, according to data released today by the California Employment Development Department from two separate surveys.
The U.S. unemployment rate was unchanged in March at 9.7 percent.
In February, the state’s unemployment rate was 12.5 percent, and in March 2009, the unemployment rate was 10.6 percent. The unemployment rate is derived from a federal survey of 5,500 California households.
California has gained jobs in each of the first three months of 2010, with gains over the period totaling 32,400 jobs. Nonfarm jobs in California totaled 13,842,000 in March, an increase of 4,200 over the previous month, according to a survey of 42,000 California businesses that is larger and less variable statistically than the federal survey.
“”I am encouraged by the news that the state has added jobs every month this year, but our unemployment rate remains too high and more action is needed,” Gov. Arnold Schwarzenegger said in a separate press release.
(Editor’s Note: Adding 4,200 jobs to a workforce of 13,842,000 is a .0003 percent increase. Adding 32,400 jobs to a 13,842,000-person workforce is a .0023 percent increase.)
The year-over-year change from March 2009 to March 2010 shows a decrease of 458,400 jobs, a 3.2 percent drop.
The federal survey of households shows an increase in the number of employed people during the month.
It estimates the number of Californians holding jobs in March was 15,938,000, an increase of 53,000 from February — down 463,000 from the employment total in March of last year.
(Editor’s Note: The addition of 53,000 jobs to a 15,938,000 workforce is a .0033 percent increase. More significantly…)
The number of people unemployed in California was 2,308,000 – up by 31,000 over the month and up by 362,000 compared with March of last year.
Read the rest of the department’s release here.
Filed under: Budget and Economy
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