Sonoma Housing Bubble

Pulling the cork out of Sonoma's bubbly housing foolishness

Friday, September 22, 2006

Job Losses Increasing Each Month


"Although there are signs job growth has stalled, fewer people were looking for work last month than in any August in the past five years."

"Unemployment in Sonoma County fell in August as teachers returned to the classroom after summer vacation, the state reported Friday."

"Job growth, however, has slowed substantially since February. For the fourth consecutive month, there were fewer jobs in Sonoma County than the same period in 2005. And the rate of job losses has accelerated each month."

"The jobless figures reflect the number of people actively seeking work and do not include those who have stopped their job search without finding employment."

'"It's the best unemployment picture since 2001," said Cynthia Solorio, an analyst who tracks job data for the state Employment Development Department. "We have fewer people looking for work, and hopefully they are picking up jobs."'

"The county was down 2,900 jobs in August compared with a year ago, including 300 in construction, 300 in health services and 1,000 in hospitality."

"Census Bureau figures show that young families are leaving the county as the number of high-paying high-tech jobs dwindles and housing costs increase."

"State employment figures show about 241,800 county residents were employed in August, down from 247,800 a year ago. The figures track residents who work at jobs in Sonoma County and residents who work outside the county."

"Thirteen percent of 30- to 39-year olds left Sonoma County in the past four years, the latest figures show."

"Last month, an estimated 10,300 Sonoma County residents were looking for work, compared with 11,400 a year ago. Paradoxically, the number of employed people in Sonoma County has also decreased, Solorio said."

"Almost 6,000 fewer Sonoma County residents are employed now than at this time last year. Some of them may have retired or otherwise dropped out of the job market, but others have likely moved out of the area, Solorio said."

2 Comments:

At 9/22/2006 06:19:00 PM , Blogger Lisa said...

I've been wondering about this for a while. Every week it seems there is another announcement of corporate layoffs, and I mean huge, huge layoffs. Intel. Sun Micro. Ford. GM. Plus pensions going away and benefits being cut back.

And of course there's the trickle down effect - every job loss impacts on several other jobs - restaurants, dry cleaner, restaurant, coffee house, etc.

MSM has been pretty quiet on this front.

 
At 9/22/2006 07:17:00 PM , Blogger Athena said...

Well did you notice that the stats said that 300 construction jobs were lost? Christopherson is the only one that announced layoffs in the county... saying something like 29 layoffs or something silly like that.

I also heard a big HR consulting company just finished a round of layoffs, as well as a large industry analyst group.

 

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