Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (166564)	11/23/2008 7:01:05 PM
From: MulhollandDrive	Read Replies (2) \| Respond to of 306849

lol!!! oh yeah great, just great! bewebstats.com seriously what the f' planet are you living on? read it and weep....the recession is just getting started from beacon economics: Is the State's Economy Nearing Bottom? California's Employment Figures Say No Unemployment in California hit 8.3 percent in October - representing a staggering half a percentage point jump. This is a clear sign of both a deepening and prolonged recession despite recent claims by many that the economic downturn is nearing a bottom. The grim highlights from the EDD's monthly employment report include: Painful numbers: Total nonfarm employment declined by 10,900 jobs in October. Reeling retail: Of the 10,900 jobs lost, 7,700 were in retail trade. Indeed, the majority of California's employment pain is being born by the retail sector which has already contracted by 1.4 percent this year. Moreover, relief is not yet in sight as consumers are likely to further clamp down on spending in response to the housing and financial crisis. Not the happiest place on earth: Over half of the state's employment losses were located in Orange County. The county lost 5,800 jobs in October, posting the largest month-over employment reduction in the state. The greatest losses were in government employment, where 2,900 workers were dropped, followed by retail trade and professional and business services which each lost 1,200 jobs. Imperial County has the unfortunate distinction of having the highest unemployment rate in the state - 25.8 percent. Napa County has the lowest rate at 5.8 percent. Cities in the agricultural heavy southern Central Valley, including Fresno, Bakersfield, Visalia, Modesto, Merced, Hanford, and Madera, have all seen their local unemployment rates rise into the double digits (ranging from 10.7% to 13.6%).