Stalling hopes for economic recovery, the Golden State lost 63,500 jobs in September, holding the third highest unemployment rate in the nation at 12.6 percent. The rate is up from 12.2 percent a year ago, further complicating plans for entrepreneurs looking to launch an LLC in California.
Nevada retains the highest unemployment rate with 14.4 percent, followed by Michigan with 13 percent - all of which dramatically exceed the national average of 9.6 percent.
"The picture that I see is the economy stuck in neutral, not moving forward, nor backwards," Sung Won Sohn, an economist at Cal State Channel Islands, told the Los Angeles Times.
The unemployment report from the California Employment Development Department comes amidst debate in California about how to tackle unemployment, the state budget deficit and its large but stalling green tech industry.
Next month, Californians will vote on a number of contended propositions, one of which - Prop 23 - would suspend a current law forcing businesses and utilities to acquire one-third of their energy through renewable resources by 2020 until the state unemployment level drops to 5.5 percent.
With a waning economy, large deficit and unemployment apparently on the rise in the 31st state, many see that prospect as a ways off.
Tags : ca, operations, small business management
Posted: Oct 22nd, 2010