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San Diego County unemployment was 10.1% in December, down from a revised 10.6% in November. However, the county lost 1,600 jobs in the month, and 43,000 from a year earlier, when the rate was 7.5%. During the December period, the California rate was 12.1% and the nation's 9.7%

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Comments

SurfPuppy619 Jan. 22, 2010 @ 12:46 p.m.

Hey, didn't everyone hear, we are out of the Great Recession according to Ben Bernanke.

Does anyone think we are stil going to recover in 2010.

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a2zresource Jan. 22, 2010 @ 3:36 p.m.

I thought this week signaled that the Stealth Recovery just gave way to Great Recession: Part Deux... hopefully, I'm wrong 'cause this is weeks early in my estimation.

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SurfPuppy619 Jan. 22, 2010 @ 6:20 p.m.

I thought this week signaled that the Stealth Recovery just gave way to Great Recession: Part Deux... hopefully, I'm wrong 'cause this is weeks early in my estimation.

Oh my, that was a funny reply a2z.

Everyone knows the economy is still in the toilet, but our great leaders continue to think we are are sheeple!

We need some serious leadership, on both the state and the national level.

If I was running CA I would simply freeze all spending, no raises, no COLA's, nothing. I would not hire any new employees until the deficit was gone, 100% eliminated. No bogus smoke and mirror budget either.

That is not going to happen though, which is why we are in a deeper crisis than we should be right now.

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SurfPuppy619 Jan. 22, 2010 @ 7:39 p.m.

This just came out a few hours ago, I hope and pray that Bernanke is NOT given another term at the fed;

Federal Reserve Chairman Bernanke's reconfirmation in doubt

Amid concerns about voter anger, some Senate Democrats oppose giving him a second term. They say he was an architect of Bush-era policies that helped create the recession and high unemployment.

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Anon92107 Jan. 23, 2010 @ 12:23 p.m.

The last two days on Wall Street proved that Wall Street is placing their bets on the Communist Chinese version of Capitalism in the 21st century.

In the newest Business Week delivered yesterday there is a Business Views - Outside Shot commentary which discussed the Chinese Communist version of Capitalism “Business profits tend to end up in state coffers, not Chinese wallets. Wage and income growth, even for China’s urban residents, hovers at about half the level of GDP growth over the past 15 years.”

This explains two of the newest Wall Street/GOP cultural values based on Chinese Communist Capitalism which they are now using as their business/role model:

1) The Bush Autocracy exported millions of American jobs and opportunities, including $Trillions in American manufacturing and Wealth of American workers to Communist China where Wall Street now wants to make their profits.

2) Wall Street doesn’t like Obama’s new way of fighting back against out of control Wall Street greed and corruption that caused the recession, so they plunged the DJI about 430 points in the last two days to hit him over the head with the new Wall Street facts of life where they demanding that profits go to the executives instead of employees, shareholders and American wallets exactly like Chinese treat their people.

Welcome to the new world of Wall Street/GOP Communist Capitalism.

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a2zresource Jan. 23, 2010 @ 2:58 p.m.

RE #4:

I have a number of concerns regarding doubts of Bernanke's confirmation to another term as Federal Reserve chair.

The rapid drop in Friday's DJIA on the news of Senator Boxer's apparent opposition to a second Bernanke term, plus President Obama's populist public comments on certain banks being too big to fail, reveal IMO how "frothy" the markets have been since some time after March 2009. By "frothy", I mean that the DJIA has been talked upward past a reasonable valuation relative to the March 2009 bottom. I still see too much non-transparancy in the large banks and other national financials to justify DJIA at 10700, and to me, a correction down to 9750 would not be totally out of line.

Another concern is in the names of those now opposing Bernanke's second term: just about every one of the senators who is now opposed did earlier vote in the affirmative for his first term as Fed chair. So far, I haven't heard any senator saying her or she was willing to step down for that first vote.

On a positive note, I consider anything such as Bernanke opposition that helps to squeeze out short-run market "frothiness" is in reality a long-run blessing for reduced valuation volatility.

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Don Bauder Jan. 23, 2010 @ 3:42 p.m.

Response to post #1: Most economists say the recession ended in mid-2009. But you have to look at one thing: who pays those economists' salaries. Best, Don Bauder

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Don Bauder Jan. 23, 2010 @ 3:43 p.m.

Response to post #2: We have to wait awhile on this question. Best, Don Bauder

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Don Bauder Jan. 23, 2010 @ 3:47 p.m.

Response to post #3: Fire all those prison guards who are the biggest donors to pols of both parties? Ain't gonna happen.Best, Don Bauder

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Don Bauder Jan. 23, 2010 @ 3:49 p.m.

Response to post #4: It's far too early to say that Bernanke steered the world out of a depression. Just about his every utterance has been wrong. Best, Don Bauder

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Don Bauder Jan. 23, 2010 @ 3:51 p.m.

Response to post #5: Your points are well taken. Best, Don Bauder

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Don Bauder Jan. 23, 2010 @ 3:54 p.m.

Response to post #6: Since March, the stock market has been floating mainly on liquidity. Ditto for bonds and commodities. Best, Don Bauder

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SurfPuppy619 Jan. 24, 2010 @ 10:57 a.m.

Most economists say the recession ended in mid-2009

If the end of the recession is having positive growth for a quarter than this may be true-from a purely techinical point of view.

What we will see I think is a tiny growth rate, followed by another negative growth quarter. I do not think we ill be out of this by the end of 2010-which I thought was possible. In fact I think there is a 50/50 chance this downturn coudl run another 2 years, based on how bad 2009 was.

I will also say I am very disappointed with President Obama after having voted for him.

I said I would give him a full/entire year before making any comments-and now that the first year is in the bag I am going to say this-he has not been as open and transparent as he said he would be- he has his hand in too many pies.

President Obama needs to forget about healthcare (for the time being), forget about global warming issues(for the time being) and focus like a LASER beam on fixing the engine that runs the economy-because if he doesn't and this recession does last another 2 years he will NOT be re elected. Then all the other things he wants to do-like healthcare- will never happen b/c he won't be in office. The Senate race in Mass. is a good glimpse into what could happen if things don't start getting better real fast.

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Don Bauder Jan. 24, 2010 @ 8:03 p.m.

Response to post #13: Consumer spending is 70% of the economy. There is national unemployment above 10%. Period. The stock market has zoomed since March. But individuals are withdrawing from this market. The trading is all done by bank trading desks and trust departments, hedge funds, and the like. The people know the recovery is not real. Best, Don Bauder

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Don Bauder Jan. 26, 2010 @ 7:06 a.m.

Response to post #15: Kiyosaki is not the only one to expect another drop in housing. Best, Don Bauder

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Don Bauder Jan. 26, 2010 @ 7:09 a.m.

Response to post #16: Sam's has problems. Best, Don Bauder

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