Out of a job? If you live in the Great State of California, you're in good company: two out of five working-age Californians do not have a job!
“The current recession stands apart from prior downturns for both the depth and breadth of destruction in the job market,” the report says. “California has lost more jobs at a faster rate in the past two years than during any prior recession for which data are available, and employment has fallen in nearly every major sector of the economy.”
Because of the decline in the number of jobs coupled with growth in the labor force, the report finds that the percentage of working-age Californians who hold jobs has fallen to its lowest level in 32 years. Citing U.S. Bureau of Labor statistics, the report says just 57.5 percent of California adults are working.
The last time the percentage was that low was in 1977, a time when many women voluntarily chose not to work outside their homes. The percentage of employed adults peaked in 1989 at 64.9 percent.
Timm Herdt of Ventura County Star has the grim news: http://www.venturacountystar.com/news/2009/sep/06/jobless-rate-4th-highest-in-us/ | California Budget Project Press Release [PDF]