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California's Building Bust Choking Off Jobs
Keywords:
Tags: Early Warning, United States,
A shocking statistic. Of the 12 metropolitan areas in the US with over 15% unemployment, 10 are in California, and this is because the construction industry has taken a severe hit. It lost 74,000 jobs in the 12 months ending in June 2010. From June 2006 to June 2010, this industry in California lost 43% or about 402,000 jobs. And the construction industry is still shrinking there. One reason why the unemployment rate in California is 12.3%. The overbuilding during the boom makes it that much harder to rebuild. The construction industry has been hard hit in Los Angeles and Riverside metro areas and in Napa and Solano counties.
Rising Unemployment in the U.S. in 2010.
06/06/2009
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California's Building Bust Choking Off Jobs
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Prospects for Recovery in the U.S. housing market 2010-2013
06/18/2009
The prospects of recovery in the housing market, regional differences, and the uncertainty arising from changes that are occurring in the American economy. The changes range from consumer frugality, lower levels of consumer spending, aging of the population, and uncertainty about economic growth.
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Housing Recovery Increasingly Prices Out First-Time Buyers
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Structural problems like a mismatch of skills between maufacturing and construction sectors worst hit since 2008 and growing sectors like healthcare is one problem. Geographic factors and difficulty selling homes in states like Michigan is another. The tighter credit from a return of banking sector losses from bad home equity loans that is expected in late 2010 will keep the recovery from taking hold keeping unemployment high. The economic uncertainty following repeated budget battles between political parties also affects business investment.
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Hiring Is Strong and Jobless Rate Declines to 6.1%
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The American economy in 2010-2012: Looking ahead the risks and possibilities.
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Housing, hiring, the strength of the stimulus and capital spending will determine what 2010-2012 looks like for the U.S. economy.
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Michelin Issues Cautious Outlook
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Growing Risks for the U.S. Economy in 2010-2012.
01/04/2010
Risks of another hit from losses on home equity loans to bank balance sheets in latter part of 2010. The situation with local and state governments in the USA cutting back significantly. The situation in Europe and an overheating Chinese economy.
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Real Disposable Income: Bad News for Democrats?
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