Tag Archives: depression

California’s Employment Picture

Total employment in California pulled back in June from a recovery high of 16.5 million, set in May. This data series has been volatile, with annual revisions each year that have shifted the trough in total employment between early 2009 and early 2010. For now, the low was set in November of 2009, at 15.93 […]

Food Stamp Use Picks Up Again, In Los Angeles County

After a winter lull, food stamp participation in Los Angeles County picked up again in March, to rise to a new all time high of 1,036,078 persons. Other economic data points to weakness in the nation’s largest state economy, as well. Indeed, falling tax collections are largely behind the recent budget deficit blowout of 16 […]

The End of Growth in the United States

With one month to go in the data series, US Total Non-Farm Payrolls have averaged 131.08 million in 2011. The problem is that the US is a Very Large System, and needs growth to support its array of future obligations, primarily Social Security and the debt it incurs to run its military budget, and other […]

Ceiling at 16: California’s Lack of Recovery

Total employment in California fell in June from 15.974 million to 15.910 million. The bigger story however is that, in addition to making a lower low in 2010, California employment never regained the 16 million mark first achieved early last decade. This is yet another way to understand how the American economic system, while still […]

Total Employment in the US Falls Again

Total employment in the United States fell in July by 38,000 people, from 139.334 to 139.296 million. This was a much smaller loss than the previous month. However, once again the average number of total employed for the current year is in decline. My forecast is that by next year, after revisions and the complete […]

Noise, Not a Recovery

The State of California reported a loss of 29,000 non-farm payrolls in May. Actually, California added 88,000 jobs in May when using the total employment data for the month. However, as I have pointed out over the past year, these oscillations are just noise. Our nation’s largest state faces a protracted, structural level of unemployment […]

Janet Yellen’s QE2 Promise Now Dying on the Vine, in California

California reported its April jobs data on Friday. The LA Times repeated the figure, laid out in the report from EDD, that on a year-over-year basis the state had created 144,000 jobs. What The LA Times did not clarify is that these were non-farm payrolls. For the fuller picture of the Golden State’s job market, […]

When Recovery’s Just a Word

I was disappointed last week when two of my favorite publications, The Economist and the Financial Times (both British) capitulated to the new recovery myth in the US Labor Market. I generally depend on London, not New York, to give me a better read on the US economy. This has been true for over two […]

No Economic Recovery In California

The purpose of an economy is not to serve statistical analysis, but rather, to serve people. Thus, we have to continually ask ourselves: what’s actually happening to Americans now that we’re three years beyond the official onset of the recession? Is the quality of life for Americans improving or not? The value of homes, the […]

Running Backwards in the US Economy

Oil is at 90 dollars a barrel. The governments of Europe, Japan, and the United States are saturated with debt. House prices in the US are falling again, and there’s no job growth in America. Put it all together, and for some reason, many are still imagining that we’re in an economic recovery. Today’s horrid […]