California ties for highest unemployment rate in U.S.

Higher even than long-time laggard Nevada. January's jobless rate was unchanged at 9.8 percent, which is the same level as Rhode Island. Nevada fell to 9.7 percent. The California employment picture, which was outpacing the nation for much of 2012, has been deteriorating in recent months, with only 1,700 payroll jobs added in January. That's a paltry performance considering that 254,900 positions were created since January of 2012. Unfortunately, the snapshot is a bit murky because this time of year state and county numbers lag the national stats - all part of the annual benchmark process during which employment results are fine-tuned from the previous 12 months. County figures for January are due out on Friday and February's data will be released on March 29. In their most recent report, UCLA Anderson economists expect sluggish payroll growth in 2013, though the picture should improve next year. The state unemployment rate is unlikely to fall much further in 2013, but it should fall to the mid-8's in 2014 - still lagging the national rate. In a nutshell, the economy is doing all right - it's just not growing all that fast. Here's the BLS release.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook