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Jobless Rate Jumps Past 10 Percent
Saturday, July 18, 2009 3:55 PM


(Source: Ventura County Star)trackingBy Stephanie Hoops, Ventura County Star, Calif.

Jul. 18--Ventura County's unemployment rate hit double digits for the first time in more than 15 years in June, surging to 10.2 percent as the number of people looking for work climbed to 44,100, the state Employment Development Department reported Friday.

The last time it exceeded 10 percent was in July 1993. The job market has contracted sharply from a year ago, when unemployment stood at 5.9 percent.

"We think that by the end of the year we're going to see more positive signs for the overall economy," said Jack Kyser, founding economist of the Los Angeles Economic Development Corp. "But unfortunately unemployment is going to continue because business is going to be cautious until its sure recovery is real."

From May to June, there was an overall loss of 1,900 jobs, but that was all attributed to 2,500 cuts in seasonal farm work. Nonfarm jobs, the market's true pulse, added 600 positions.

Gains were reported in trade, transportation and utilities, 400; government, 300; leisure and hospitality, 200; manufacturing, 100, and construction, 100. Cuts occurred in educational and health services, 200; professional and business services, 200, and financial activities, 100.

'No single shocking number' Bruce Stenslie, president and CEO of the Economic Development Collaborative of Ventura County, was surprised by the gains.

"We were one of the few counties in the state to gain 600 jobs in the nonfarm category even as the state dropped 66,500 nonfarm jobs," he said. "That's a pretty dramatic contrast."

Still, the 44,100 people looking for work last month was up 71.6 percent from 25,700 in June 2008. Another telling statistic is the loss of 14,700 nonfarm jobs from a year ago.

In addition, Ventura County's unemployment rate was up from a revised 9.6 percent in May. The local figures are not adjusted for seasonal changes like the state and nation. ' California's unemployment rate was 11.6 percent in June, the same as in May, but the highest in modern record-keeping. The nation's was similarly level at 9.5 percent. While up only 0.1 percent from May, it marked a 26-year high.

"In some cases, we're seeing a leveling off," Kyser said.

Because there wasn't a dramatic change from May to June, those tracking the data are anxious to see what next month's numbers show.

"There was no single shocking number in here," Stenslie said. "It's like things have stabilized.




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