>Sonora / Tuolumne News, Sports, & Weather, Angels Camp, Twain Harte, Jamestown | Union Democrat

Sonora, CA forecast
& Northern California web cams

News Classifieds Web
web powered by Web Search Powered by Google

Home arrow News arrow Business arrow Jobless rate falls slightly in Mother Lode in Oct.

Jobless rate falls slightly in Mother Lode in Oct.

Staff and wire reports

    The unemployment rate fell in Tuolumne and Calaveras counties in October compared to last year, according to a recent study completed by the Employment Development Department which tracks local labor statistics.
    Tuolumne County saw modest job creation and its unemployment rate fall to 12.5 percent in October, compared to 13.1 percent during the same period last year. However, it was a slight increase from September, when unemployment hit a two-year low of 12.4 percent.
       The number of people filing for unemployment benefits fell from 3,320 last year to 3,160 in October, with the number of employed people climbing slightly from 21,980 last year to 22,020 in October.
    Most job sectors saw falling or flat employment figures last month, with modest gains in government jobs and hospitality.
    While unemployment also fell slightly in Calaveras County to 14.6 percent, the number of people looking for work and the total labor force also fell. The civilian labor force was 19,300 in October, a 3 percent drop from19,860 during the same period last year. Comparatively, 2,920 people were unemployed in October, with 2,810 last year.
    Most job sectors decreased or remained flat in Calaveras County last month, but there was modest growth in state and federal government jobs.
    Unemployment rates fell in three-quarters of U.S. states last month, a sign that many parts of the country are experiencing modest job gains.
    California, which added 25,700 jobs in October, has an unemployment rate of 11.9 percent.
    Unemployment rates fell in 36 states in October and rose in only five, the Labor Department said Tuesday. Rates were unchanged in nine states. That’s the best showing since April, when rates fell in 39 states.
    Nationally, the unemployment rate ticked down to 9 percent in October, from 9.1 percent the previous month. Employers added a modest 80,000 net jobs last month and the previous two months were revised to show much stronger gains.
    Still, at least 125,000 jobs a month are needed to keep up with population growth, and at least double that amount to rapidly reduce the unemployment rate.
    Nevada had the nation’s highest unemployment rate for the 17th straight month. It was unchanged at 13.4 percent. California had the second-highest rate at 11.7 percent. Mississippi and Michigan had the next highest rates, both at 10.6 percent.
    North Dakota reported the nation’s lowest unemployment rate, at 3.5 percent. It was followed by Nebraska, at 4.2 percent.
    Unemployment rates in Alabama, Michigan and Minnesota all dropped by a half of a percentage point — the biggest declines among states.
    Hawaii, Illinois, Indiana, Louisiana and Oklahoma all reported small increases in their unemployment rates.
    Employers added jobs in 39 states. Payrolls declined in 11 states.
    Illinois added 30,000 jobs, the most among states.
    Illinois’ job growth appears to have encouraged many people who had stopped looking for work to resume job searches, increasing the size of the labor force. That caused the unemployment rate to rise, despite the job gain.
    Wisconsin reported the biggest job loss, a drop of 9,700, followed by New York, which shed 8,300.
    There have been some signs in recent weeks that the economy and hiring may pick up soon. The number of people seeking unemployment benefits fell to a seven-month low last week. Retail sales also grew at a healthy pace in October.
    The economy expanded at a 2 percent annual rate in the July-September quarter, the Commerce Department said Tuesday. That was below an earlier estimate of 2.5 percent. But the drop was mostly because companies cut back on their stockpiles of goods, probably because they expected consumer and business demand to slow.
    If demand remains steady, businesses may have to boost inventories in the current quarter, leading to stronger growth. Many economists forecast growth will accelerate to about 3 percent in the October-December quarter.

Follow UnionDemocrat.com

News
Local / Sports / Business / Stocks / News of Record / State / Nation/World / Obituaries / Submit News
Opinion
Editorials / Letters
Photos
Union Democrat Photos / Community Photos /
Classifieds
Search Classifieds / Jobs / Autos / Homes / Rentals / Place an Ad
Online Extras
Weather / Local Business Links / Community Links / Photo Reprints
Union Democrat
About / Contact / Commercial Printing / Subscriptions / Terms of Use / Site Map

© Copyright 2001 - 2014 Western Communications, Inc. All rights reserved. By Using this site you agree to our Terms of Use

Sun, 23 Nov 2014 03:35:01 -0800