California’s Unemployment at 60 Year High, at Depression Levels

The news out of Washington is suggesting that the bottom of the economic decline is here, and last week, Federal Reserve Chairman Ben S. Bernanke stated that the “economy is leveling out;” however, the people with the Peace and Freedom Party, based in California, is dismissing the Federal Reserve report as propaganda that will only benefit Wall Street.

Stewart A. Alexander
For California Governor
Peace and Freedom Party 2010

August 29, 2009

If there are any hints that the bottom of the U.S. economic decline is near, don’t look for any signs in California where the state’s unemployment rate is at the highest level since WWII, and thousands are losing their homes to foreclosures as California’s economy continues to spiral in decline.

The news out of Washington is suggesting that the bottom of the economic decline is here, and last week, Federal Reserve Chairman Ben S. Bernanke stated that the “economy is leveling out;” however, the people with the Peace and Freedom Party, based in California, is dismissing the Federal Reserve report as propaganda that will only benefit Wall Street.

The California jobless rate climbed to 11.9 percent for the month of July with the loss of 35,800 jobs. There are two Southern California counties, Riverside and San Bernardino, where unemployment is at depression levels; the unemployment in both counties is hovering at 14 percent. Other counties in Northern California, Fresno, San Joaquin, Stanislaus and Tulare, the unemployment rate has topped 15 percent. According to data collect by the California Employment Development Department, there are 2,187,000 Californians that are presently unemployed or more that 1 out of 10 of the state’s labor pool. These numbers are an indication that the Golden State has not reached the bottom and is not “leveling out.”

There were job losses in every sector, retail, services, manufacturing, construction and finance; and the downturn in the housing industry has hit the construction and finance sectors extremely hard. The decline in construction and finance jobs, due to the collapse of the housing bubble, created the loss of 100s of thousands of jobs throughout California. This has had a trickle down effect creating job losses in retail and service industries.

While campaigning for president, President Barack Obama promised that his administration would create “shovel ready jobs” to put millions back to work; however, in California, the only shovel ready jobs that have been created are low paying jobs and part-time employment for kids out of school. Unfortunately, the president’s plan has not helped the millions of Californians that are struggling to pay their bills, trying to keep food on their tables and pay their mortgages.

Shortly after President Obama took office, Congress approved a $787 billion stimulus bill that has produced little results, and less than 14 percent of the funds have been allocated. This is creating public concern that President Obama and the Democrats in Congress do not have a plan to rescue the U.S. economy. Without a plan to revive the economy and to put the millions that are unemployed back to work, the president and his party have taken on the daunting task of reforming the nation’s healthcare system while the majority of Americans are presently concerned about their financial health and having good paying jobs.

As California approaches the 2010 election year, the rhetoric coming from Washington is offering little to confront the stark reality that California is still spiraling in an economic decline, and that decline is mostly due to the poor leadership of both the Democrats and Republicans in California government. Both the Democrats and Republicans, and the leaders representing both parties, have put the interest of the wealthy few before the public’s interest, and both parties have done little to protect the interest of working class people.

The Peace and Freedom Party will have a full slate of candidates during the 2010 election year; however, the one disadvantage all third party candidates share in U.S. politics, with so many critical issues confronting California voters and working people, the corporate media will only cover the two big money parties and their candidates, a process that has already begun for 2010.

For more information search the Web for: Stewart A. Alexander
http://www.stewartalexandercares.com/

California Employment Development Department
http://www.edd.ca.gov/

Peace and Freedom Party Home Page
http://www.peaceandfreedom.org/home/

Stewart Alexander will enter 2010 race for California Governor
http://banderasnews.com/0901/nw-stewartalexander02.htm