Tame jobs report

The April unemployment rate in L.A. County was 5.9 percent, up a bit from 5.8 percent the previous month and quite a bit from 4.9 percent in April 2007. There's a good chance that it will keep inching up over the rest of the year, perhaps landing at 7 percent or higher by early 2009 (my own guesstimate). That's not great, of course, but it could be far worse. It has been far worse. Statewide, the April unemployment rate was 6.2 percent, which is unchanged from March (the U.S. rate was 5 percent). The separate payroll report shows that only 700 jobs were added in L.A. County last month, which also is not great, but reflective of a struggling economy. I mean, when you’re sick, you have a fever. The ups and downs within industry sectors look pretty modest. Here's the EDD release.