Even though there have been reports of the unemployment rate of the Silicon Valley falling in April, the unemployment rate of California does not seem to be affected much. It remains unperturbed at 12.6 percent.
The reason for the fall in unemployment rate in Silicon valley has been due to the sharp fall of the unemployment rates in Santa Clara and San Mateo counties due to the hiring of techies. Santa Clara County recorded its lowest unemployment rate this year. Refer to California unemployment claims guide to learn more about state unemployment program.
But all this does not seem to affect California’s struggle. It still remains the third highest in the nation, just behind Michigan and Nevada. The worrying factor is that the state’s unemployment rate is well above the unemployment rate of the nation which has been 9.9. percent.
The only positive sign has been the hiring in tech manufacturing sector which could mean the companies have started spending on computer upgrades.
The updates on some job listing sites have shown that the increase in the number of full time job openings posted by the employers. After the recession set in, it was usually part time or contract workers being hired. But it looks like the confidence in the economy is coming back and hence the employers are looking for full time permanent workers.
There is a wide spread belief that the unemployment rate of California might budge only when the private sectors start hiring.
You can check out the unemployment benefits in California if you want to know more about the unemployment claims.
The recession has hit the states of US very hard, which in turn has hit the unemployment rate. This has a very bad effect on home loans section. Many loans have been ending up in foreclosure and that is a very sad situation.
Reports claim that Nevada was the forerunner in the foreclosure rate. Almost one in every 69 houses have got a notice there.
Arizona took the second place as it lost 82,000 jobs last year and Florida ranked third in the foreclosure rate. California took the fourth and Utah the fifth positions respectively. The foreclosure fillings have remained at a very high level and show no inclination to drop in the near future.
For those of you who have not claimed your unemployment benefits, you check out Nevada unemployment guide, Arizona unemployment benefits, or California unemployment claims guide on our website.
Of course, people are trying to come out with initiatives to prevent foreclosures. Oakland County Treasurer Andy Meisner has launched the Oakland County Foreclosure Prevention Initiative, a partnership project between the Oakland County Treasurer’s Office, United Way, Lighthouse of Oakland County, Wayne County, and other public and non-profit organizations. The idea behind this is to provide assistance to the homeowners who have been hit by recession and unemployment. The assistance will be in the form of financial counselling, intervention with lenders and help in negotiating possible settlements. The initiative offers one-stop foreclosure and foreclosure prevention resources, do-it-yourself features, user-friendly online intake for convenience and efficiency, and continuous e-mail contact with the program. This program is free and has warned the homeowners against any other forclosure prevention scam.
California, like the other states in US, has been in recession since three years. The state has been making its best efforts to come out of it as soon as possible.
The governor of the state, Arnold Schwarzenegger released the revise budget plan proposing major cuts in the health and welfare programs. He laid out the option of removing CalWORKS which was the state’s welfare-to-work program.
The recession has resulted in the California nemployment rate rising to 12.6. With unemployment remaining high and tax revenue low, California will face a deficit of more than $20 billion in the fiscal year that begins July 1.
The governor has assured that there will not be any raise in taxes. But democrats feel that the state has already made too many cuts in its programs. They feel that this might hit the spirit of the federal health care program. They have been to Washington propagating the cause that no more cuts should be allowed for core health and social programs as it may effect single mothers, seniors and children.
Republicans believe that the revenue should come from taxes generated from the growth of the jobs and this is possible if the business taxes are lowered and the regulations are reduced.
But those vouch for health and welfare programs say that it might affect the families and might impact the economy of California negatively.
It is true that not all of them in the state are happy with the cuts in health care programs.
You can refer unemployment benefits in California for more details on unemployment benefits in the state.