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Wednesday, April 16, 2014

Mariposa Daily News 2012

California’s November 2012 Unemployment Rate Decreases to 9.8 Percent


December 21, 2012 - SACRAMENTO – California’s unemployment rate decreased to 9.8 percent in November, and nonfarm payroll jobs decreased by 3,800 during the month for a total gain of 564,100 jobs since the recovery began in February 2010, according to data released today by the California Employment Development Department (EDD) from two separate surveys. 

The U.S. unemployment rate decreased in November to 7.7 percent.

In October, the state’s unemployment rate was 10.1 percent, and in November 2011, the unemployment rate was 11.3 percent. The unemployment rate is derived from a federal survey of 5,500 California households.  

Nonfarm jobs in California totaled 14,406,400 in November, a decrease of 3,800 jobs over the month, according to a survey of businesses that is larger and less variable statistically. The survey of 42,000 California businesses measures jobs in the economy. The year-over-year change (November 2011 to November 2012) shows an increase of 268,600 jobs (up 1.9 percent). 

EMPLOYMENT AND UNEMPLOYMENT IN CALIFORNIA

The federal survey of households, done with a smaller sample than the survey of employers, shows an increase in the number of employed people. It estimates the number of Californians holding jobs in November was 16,589,000, an increase of 78,000 from October, and up 223,000 from the employment total in November of last year.The number of people unemployed in California was 1,805,000 – down by 43,000 over the month, and down by 285,000 compared with November of last year. 

PAYROLL EMPLOYMENT DETAIL (SEASONALLY ADJUSTED)

EDD’s report on payroll employment (wage and salary jobs) in the nonfarm industries of California totaled 14,406,400 in November, a net loss of 3,800 jobs since the October survey. This followed a gain of 38,800 jobs (as revised) in October.

Five categories (construction; trade, transportation and utilities; information; financial activities; and leisure and hospitality) added jobs over the month, gaining 27,600 jobs. Trade, transportation and utilities posted the largest increase over the month, adding 12,900 jobs.

Five categories (manufacturing; professional and business services; educational and health services; other services; and government) reported job declines over the month, down 31,400 jobs. Educational and health services posted the largest decrease over the month, down 11,000 jobs. One category, mining and logging, was unchanged over the month.

In a year-over-year comparison (November 2011 to November 2012), nonfarm payroll employment in California increased by 268,600 jobs (up 1.9 percent).

Seven categories (construction; trade, transportation and utilities; information; financial activities; professional and business services; educational and health services; and leisure and hospitality) posted job gains over the year, adding 320,000 jobs. Professional and business services posted the largest gains on a numerical basis, adding 74,100 jobs (up 3.4 percent). Information posted the largest gains on a percentage basis, up 5.9 percent (adding 26,000 jobs).

Four categories (mining and logging; manufacturing; other services; and government) posted job declines over the year, down 51,400 jobs. Government posted the largest decline on both a numerical and percentage basis, down by 34,500 jobs (a 1.4 percent decrease).

UNEMPLOYMENT INSURANCE CLAIMS (NOT SEASONALLY ADJUSTED)

In related data, the EDD reported that there were 391,870 people receiving regular unemployment insurance benefits during the November survey week. This compares with 453,448 last month and 536,294 last year. At the same time, new claims for unemployment insurance were 39,879 in November 2012, compared with 55,543 in October and 74,082 in November of last year.

edd201212-4 

CalPERS Statement on U.S. Bankruptcy Proceedings in San Bernardino


December 21, 2012 - SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today issued the following statement after a U.S. Bankruptcy Judge denied the Pension Fund’s motion for relief from the automatic stay in the City of San Bernardino bankruptcy case:

“Today’s hearing is one step of many on a journey. While it is not surprising that the decision was to keep the issues in bankruptcy court, the court clearly stated today’s decision was not a 'great victory' for the City of San Bernardino nor a 'great defeat' for CalPERS. The Court recognized that all debts incurred after filing for bankruptcy by any entity must be paid in full at the time of approval of the plan of adjustment. We are confident that the court will recognize the priority of our members and the obligations owed to them. Most importantly, we must not lose sight of those people who could be most impacted – the public employees and retirees who worked hard over their careers to serve the City of San Bernardino.

“These public employees and retirees are CalPERS members and our responsibility is to protect the benefits that were promised to them by their employers and to make sure CalPERS has the funds to pay benefits. By state law and Constitution, CalPERS has the legal and fiduciary obligation to deliver and protect the benefits that public employees have earned.

“San Bernardino's hard working public employees spent their careers serving our fellow Californians. Those employees live here, work here, retire here and pay taxes here. They made their pension contributions and they earned their pensions.

"We have had good dialogue with the City of San Bernardino officials and expect to continue to help forge solutions. As always, CalPERS will continue to responsibly fulfill our duties and protect those who serve California every day of their careers.”

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