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The unemployment rate for San Diego County in January jumped to 11% from a revised 10.3% in December, according to delayed data from the California Employment Development Department. This compares with 13.2% in California and 10.6% nationally for the comparable period. The county lost 17,400 jobs in the month. A major hit was in leisure and hospitality, shedding 4,000 jobs -- another reflection of the extremely weak tourism business. Retail jobs were down 4,300, but 90% of those were seasonal (Christmas) jobs. Between January of last year and this January, the county lost 50,300 jobs, or 4%.

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Comments

a2zresource March 10, 2010 @ 1:19 p.m.

Although it's a hard statistic to find, I'd bet the underground economy has seen unemployment decreasing over the same time frame.

I've been showing more than a few of my younger neighbors that private tutoring on a strictly-cash basis at local community colleges can at least stave off starvation. Even if my income rarely exceeds expenses leaving me with no retained earnings, I do get to see others' value in the marketplace go up as a result of their improved learning while I legitimately avoid excessive income taxes at the same time.

Getting that letter during the Clinton administration to stop filing was a hoot!

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SurfPuppy619 March 10, 2010 @ 2:35 p.m.

"The unemployment rate for San Diego County in January jumped to 11% ...... This compares with 13.2% in California ..."

Bet Ben Bernanke said the Great Recession is OVER. How could it be over if UE is rising-while job creation is still negative????

Maybe Ben was not being completely honest with us, but it is hard to believe he would tell the American public a lie;

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SurfPuppy619 March 10, 2010 @ 2:46 p.m.

Although it's a hard statistic to find, I'd bet the underground economy has seen unemployment decreasing over the same time frame.

I would take your bet (and your money I think)!

One way to tell if the "off the books" economy is growing is the measure of remittances to foreign countries, specifially Mexico, since much of "off the books" employment is done by illigal immigrants and sent home, to the country of orgin.

Remittances to virtually all foreign countries are down with Mexico taking one of the largest % hits, over 15% according to the latest news reports.

Another way to tell is the number of illegals trying to get into and stay in CA., that % has also dropped very substantially.

All this indicates the "off the books" economy is not doing any better than the "on the books" economy is.

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a2zresource March 10, 2010 @ 8:36 p.m.

RE #3:

I agree that remittances to Mexico are down to about $25 billion, but the underground economy is a whole lot bigger than just illegal aliens. In fact, you can probably find underground economic transactions within 100 yards of leaving your front door in most San Diego urban neighborhoods.

I'd also agree that it's not necessarily doing "better" in terms of absolute dollars. It is probably doing "better" in terms of the absolute number of transactions year over year, as well as the number of people involved in those transactions. This includes barter transactions that aren't reported on anybody's tax forms, especially when clever ones skirt the rules by declaring that anything bartered has zero salvage value.

If the totality of the underground economy ever gets close to 1/4 of the official economy, then I must be living in Humbolt County or we've seen the DJIA dive to about 2000.

In any case, I'm not admitting anywhere SDG&E can find it that my neighbors and I are bartering electricity as a part-time cooperative... but look around and see just how many San Diegans are conducting business out of the backs of cars, trucks and SUVs lately.

And you can't take my money 'cause Sempra Energy already has dibs on my next $70K or so.

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Don Bauder March 11, 2010 @ 6:07 a.m.

Response to post #1: You can bet there are no statistics for underground economy unemployment. You can also bet that participation is that economy has gone up, and its unemployment gone down. Best, Don Bauder

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Don Bauder March 11, 2010 @ 6:11 a.m.

Response to post #2: Bernanke tells us the recession is over and the economy is recovering. But interest rates will stay at almost zero for the indefinite future. He is talking out of both sides of his mouth. The truth remains: Wall Street does not want Main Street to recover. If Main Street perked up, then the zero interest rates would go away. Note how a Fed president will say every couple of weeks that the Fed must keep the funds rate at 0 to 0.25% indefinitely. It's an attempt to manipulate stocks, commodities and bonds upward. Best, Don Bauder

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Don Bauder March 11, 2010 @ 6:16 a.m.

Response to post #3: But how about all those underemployed people? Don't you think there is some off the books activity going on there -- and it's increasing? Best, Don Bauder

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Don Bauder March 11, 2010 @ 6:19 a.m.

Response to post #4: I agree that border activities tell only part of the story. See above. Best, Don Bauder

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