Sac Bee: Although California’s unemployment dropped fractionally to 7 percent in December, the state stands alone with the nation’s second-highest rate, exceeded only by Mississippi’s 7.2 percent.
California, which has had one of the nation’s highest unemployment rates for years, found itself alone with the second-highest rate because Georgia, with whom California had been tied, improved to 6.9 percent, according to a compilation that was released Tuesday by the U.S. Bureau of Labor Statistics.
On the edge of unsustainable. A flat stock market will cause public sector employment to fall, under the current pension system. The Floundering legislature has barely fixed the thing, and unions certainly will find ways to defeat the reforms. California has beaches and ignorant regulation, result: It pays more for 7% of the population to be unemployed. California almost certainly has hidden budget liabilities that will surface, most of what we hear from politicians out here is to be ignored. And, quite simply, the utter stupidity of the legislature, they cannot stop the wrecking ball.
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