Jobless rate is too upbeat

Workers between 25 and 34, Latinos and high school graduates are having the toughest time finding a job in L.A. County, according to a report by the Economic Roundtable. Breaking out the numbers of unemployed and underemployed by age, race and education is a good reminder that the county's overall 12.2 percent unemployment rate only tells part of the story. Of particular concern is underemployment, which is defined as someone having a job but not in his or her desired field (or desired salary). The underemployment rate can be double the regular unemployment rate, and it points to an economy that's not working at all cylinders - as in an electrical engineer delivering flowers. This is an especially sensitive issue in L.A. because the middle class has been so hollowed out, going back to before the recession. If those electrical engineering jobs do not become available, it means more folks will be moving to places where they will be available. Making it easier to do business here would be a step in the right direction, but there's no hint that local government has any real interest or ability in getting that done. In any event, the December state and local numbers are due out next Friday, the 22nd. Meantime, here are some of the November numbers for L.A. County:

Unemployment
Age
--25-34 11.8%
--35-44 9.9%
--45-54 10.2%
--55 and over 9.6%

Race/ethnicity
--African American 12.6%
--Latino 14.3%
--White 11.8%
--Asian 8.2%

Education
--Less than HS diploma 12.1%
--HS graduate 13.6%
--Some college or AA degree 10.3%
--BA degree or higher 7.5%

Underemployment
Age
--25-34 22.8%
--35-44 19.8%
--45-54 22.2%
--55 and over 21.7%

Race/ethnicity
--African American 25.3%
--Latino 30.4%
--White 18.7%
--Asian 15.5%

Education
--Less than HS diploma 33.5%
--HS graduate 26.0%
--Some college or AA degree 20.4%
--BA degree or higher 13.0%

Source: Economic Roundtable/BLS

Here's the full report.