California’s unemployment rate will peak at just over 12 percent late this year, according to a forecast by the UoP. Currently, unemployment statewide stands at 10.5 percent.
Source: University of the Pacific, Sac Bee
March 24, 2009
Forecast: California unemployment will hit 12 percent
March 20, 2009
California economy worsens, unemployment at 10.5 percent
According to EDD, Reuters: ” California’s unemployment rate increased to 10.5 percent in February from 10.1 percent in January as the most populous state’s economy worsened, official data showed on Friday.
California’s February jobless rate far exceeded both the state’s 6.2 percent rate a year earlier and the national unemployment average for February of 8.1 percent, according to the report by the state’s Employment Development Department.”
February 28, 2009
California’s unemployment rate above 10 percent
According to Reuters: “California’s unemployment rate rose to 10.1 percent in January, its highest level in a quarter century, as recession tightened its grip on the most populous U.S. state.
Weakness in the housing and consumer sectors helped drive the jobless rate up from a revised 8.7 percent in December and 6.1 percent in January 2008 and to above the national average in January of 7.6 percent, state officials said on Friday.”
February 25, 2009
California had most mass layoffs in January
California shed more workers than any other state because of mass layoffs, with 54,150 losing their jobs last month. It was followed by New York at 31,890, Pennsylvania at 29,660 and Ohio at 27,970, according to a report by the U.S. Bureau of Labor Statistics.
- A mass layoff is defined as a single action by a single employer that causes at least 50 workers to lose their jobs.
Source: U.S. Bureau of Labor Statistics, San Francisco Business Times
February 18, 2009
Jobless phone calls cost California millions of dollars
Millions of failed calls to the state’s unemployment insurance call centers are costing California taxpayers millions of real dollars.
The Employment Development Department pays 5 cents to Verizon each time a caller dials its toll-free numbers to file or get help with an unemployment insurance claim and EDD staff can’t handle the call. The message urges callers to file their claims through the department’s Web site.
That message service has cost taxpayers $4.9 million since the beginning of 2008.
Source: Sacramento Bee
February 2, 2009
States’ unemployment funds dwindling.
New York, “is running on empty when it comes to unemployment insurance. The state borrowed $120 million from the federal government to pay jobless benefits in 2008, and the fund was broke again on the first day of business this year. What’s more, the weekly benefits are completely inadequate given our high cost of living. Albany saw this problem coming and did nothing to solve it.”
“A spokesperson with the Nevada Department of Employment, Training and Rehabilitation says $533 million dollars in the fund currently could be gone by the end of this year. Mae Worthey also says the department may have to tap into federal funds to make sure those who are unemployed get their benefits.”
In California, “According to the Employment Development Department, the state pays about $30 to $34 million a day in unemployment benefits. It will have to rely on a $2 billion federal loan to get through March.”
“With Missouri’s jobless rate at 7.3%, the fund that pays unemployment benefits will be broke in two weeks. The unemployment trust fund has about $37 million dollars in the bank and it pays out around $20 million dollars a week.”
“With South Carolina set to release its latest unemployment numbers, businesses and lawmakers are contemplating tax hikes as one way to fix a system that needs to borrow hundreds of millions of dollars from the federal government so residents continue to get benefit checks.”
January 23, 2009
California jobless rate hits 9.3%
According to Reuters, CNN Money: “California’s unemployment rate jumped to 9.3% in December from 8.4% in November and 5.9% a year earlier as job cuts swept across most industries, with recession tightening its grip on the most populous U.S. state, officials said Friday.
California’s December jobless rate marked a 14-year high for the state and was significantly higher than the month’s national average of 7.2%, underscoring a surge in job losses over the last three months of 2008″
December 31, 2008
Thousands of stores to disappear in 2009
According to CNN Money: “The ugly sales year that was 2008 will haunt U.S. retailers in 2009, with industry experts warning that disastrous holiday sales will spark a domino effect of store closures and bankruptcy filings.”
As many as 14,000 stores are expected to be closed in 2009. Nevada, California and Florida will be especially hard hit.
December 22, 2008
WARN: Layoff announcements in January – February 2009 in California Hi-Tech
According to California EDD WARN statistics, the following layoffs are scheduled for January – February 2009 in hi-tech companies with number of employees greater than 50:
ADOBE SYSTEMS INCORPORATED, Location: SAN FRANCISCO, Layoff date: 2/3/09, Employees affected: 75
CADENCE DESIGN SYSTEMS, INC, Location: SAN JOSE, Layoff date: 1/4/09, Employees affected: 245
NATIONAL SEMICONDUCTOR CORPORATION, Location: SANTA CLARA, Layoff date: 1/13/09, Employees affected: 151
PALM, INC, Location: SUNNYVALE, Layoff date: 1/19/09, Employees affected: 107
SANDISK CORPORATION, Location: MILPITAS, Layoff date: 1/11/09, Employees affected: 96
SEAGATE TECHNOLOGY LLC, Location: MILPITAS, Layoff date: 1/3/09, Employees affected: 48
SEAGATE TECHNOLOGY LLC, Location: MILPITAS, Layoff date: 4/3/09, Employees affected: 43
SHUTTERFLY, INC, Location: HAYWARD, Layoff date: 1/16/09, Employees affected: 70
SIEMENS, Location: LOS ANGELES, Layoff date: 1/30/09, Employees affected: 6
SIEMENS MEDICAL SOLUTIONS, Location: MOUNTAIN VIEW, Layoff date: 1/5/09, Employees affected: 2
SUN MICROSYSTEMS, INC:
Location: SACRAMENTO, Layoff date: 1/5/09, Employees affected: 3
Location: SACRAMENTO, Layoff date: 1/18/09, Employees affected: 2
Location: EL SEGUNDO, Layoff date: 1/5/09, Employees affected: 1
Location: EL SEGUNDO, Layoff date: 1/18/09, Employees affected: 1
Location: IRVINE, Layoff date: 1/5/09, Employees affected: 4
Location: IRVINE, Layoff date: 1/18/09, Employees affected: 3
Location: MENLO PARK, Layoff date: 1/5/09, Employees affected: 19
Location: MENLO PARK, Layoff date: 1/18/09, Employees affected: 6
Location: PLEASANTON, Layoff date: 1/5/09, Employees affected: 5
Location: PLEASANTON, Layoff date: 1/18/09, Employees affected: 7
Location: SAN DIEGO, Layoff date: 1/5/09, Employees affected: 2
Location: SAN DIEGO, Layoff date: 1/18/09, Employees affected: 2
Location: SAN FRANCISCO, Layoff date: 1/18/09, Employees affected: 4
Location: UNIVERSAL CITY, Layoff date: 1/18/09, Employees affected: 1
SYMANTEC:
Location: CUPERTINO, Layoff date: 1/19/09, Employees affected: 55
Location: MOUNTAIN VIEW, Layoff date: 1/13/09, Employees affected: 38
VISHAY SILICONIX, Location: SANTA CLARA, Layoff date: 2/6/09, Employees affected: 97
VIRGIN MOBILE USA, Location: WALNUT CREEK, Layoff date: 1/1/09, Employees affected: 192
THE BOEING COMPANY:
Location: ANAHEIM, Layoff date: 1/1/09, Employees affected: 5
Location: ANAHEIM, Layoff date: 1/22/09, Employees affected: 2
Location: EL SEGUNDO, Layoff date: 1/1/09, Employees affected: 8
Location: EL SEGUNDO, Layoff date: 1/22/09, Employees affected: 3
Location: HUNTINGTON BEACH, Layoff date: 1/1/09, Employees affected: 19
Location: HUNTINGTON BEACH, Layoff date: 1/22/09, Employees affected: 42
Location: LONG BEACH, Layoff date: 1/1/09, Employees affected: 50
Source: California EDD WARN
November 21, 2008
Large-scale layoffs sting Bay Area companies
According to San Francisco Business Times: “With the pace of Bay Area layoffs increasing, particularly in the East Bay, workforce retraining efforts are also gathering steam.
Large-scale job cuts have accelerated with the closure of department store chain Mervyns’ Hayward corporate office and eight East Bay locations, and the acquisition of Longs Drug Stores Corp. by CVS Caremark Corp., with the loss of 800 Longs corporate jobs. This week, electronics retailer Circuit City Inc. said it would close 155 stores nationally, including six in the East Bay.
These are among the region’s biggest layoffs since last year, when job losses were focused on the home lending industry. Roy Bertuccelli, a program financial specialist at the Alameda County Workforce Investment Board in Hayward, said the last three weeks have been “extremely unusual. … All sectors of the economy are slowing down.”
Meanwhile, green industries, health care and biotech continue to hire. Bertuccelli is seeking to retrain workers to match up with continued demand from “sunrise” industries.”
Big paydays for ex-state workers
According to San Jose Mercury News: “A California prison physician made $815,000 just by cashing out a career worth of unused vacation. A California Highway Patrol officer made $225,300.
Dozens of state workers took advantage of the perk that cost the state $174 million last year.”
Government Salary Data: http://www.mercurynews.com/salaries
Silicon Valley unemployment rate jumps to 6.9 percent
According to San Jose Mercury News: “The number of people looking for work in Silicon Valley was up sharply in October, sending the unemployment rate to 6.9 percent — still far below California’s jobless rate of 8.2 percent.“
San Jose’s projected deficit zooms past $59 million; layoffs seem certain
According to San Jose Mercury News: “The imploding economy has widened the projected hole in San Jose’s budget next year to more than $59 million, city officials said Thursday, making layoffs virtually certain and burying Mayor Chuck Reed’s hopes for eliminating chronic deficits in his first term.Though city voters this month maintained two existing phone taxes at reduced rates — one of which was set to expire next year — and some employee groups have agreed to take lower raises, City Manager Debra Figone said “everything else has worsened.”
“At this point in time, I can’t see how we can avoid layoffs,” Figone said. City union leaders had no immediate response.”
California unemployment rate rises to 8.2 percent
According to AP: “State officials say California’s unemployment rate jumped to 8.2 percent in October from 7.7 percent in September. The jobless rate announced today by the California Employment Development Department was up from 5.7 percent just a year earlier.
The agency said the number of people unemployed in California topped 1.5 million — up by 95,000 over the month, and up by 487,000 compared with October last year. The U.S. unemployment rate also rose in October — to 6.5 percent.”
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