header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather


 
Calendar
Today in
S.C.V. History
May 9
1990 - Gene Autry's elderly horse, Champion, put to sleep; buried at Melody Ranch [story]
Champion


 

The U.S. unemployment rate has dropped to 8.3 percent from 8.5 percent last month according to the Labor Department. Hiring rose in January adding 243,000 jobs, an increase over the 203,000 jobs added in December.

Dr. Robert Kleinhenz, Chief Economist for the Los Angeles County Economic Development Corporation

“It’s good to start off the year with that type of improvement especially after so many years of painfully high unemployment rates nationally and of course here in California,” said Dr. Robert Kleinhenz, (pictured at left) Chief Economist for the Los Angeles County Economic Development Corporation.

Despite the three month uptick in hiring, Kleinhenz believes the nation still has a long ways to go before finding its way back to a normal labor market.

“At 200,000 jobs on average per month, it will take us…I hope you’re sitting down…it will take us about 4 years to get us down to a normal rate of unemployment,” Kleinhenz said.

On the bright side, employment increased by 40,000 jobs from December to January for a total of 243,000. Kleinhenz hopes that trend continues.

“If we can get closer to 250,000 or get to 300,000 jobs per month, which is more typical at this point in an economic recovery cycle it would take us under 2 years to bring the unemployment rate to a normal level which is around 6 percent,” said Kleinhenz.

While the nation’s unemployment is now at 8.3 percent, California is still over 11 percent. Kleinhenz says that doesn’t mean California is lagging behind the rest of the country.

“The job gains in California relative to the job gains for the nation as a whole approximately equal our share of the labor force in the U.S.. So we’re on a par with the job gains that the national economy is experiencing,” Kleinhenz says.

January employment numbers have not yet been released for California, but the multi-year recovery timeline is similar to that of the nation.

“We had 28,000 job gains in the month of December and at that rate it’s going to take about 3 years for California to get its unemployment rate down to a normal level,” Kleinhenz said.

According to Kleinhenz unemployment numbers will continue to be painfully high through 2012, but improving throughout the year if hiring continues to increase.

For a closer look at the Bureau of Labor Statistics numbers, click here.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


SCV NewsBreak
LOCAL NEWS HEADLINES
Thursday, May 9, 2024
LASD Deputies Receive State’s Medal of Valor
Los Angeles County Sheriff's deputies Shane Seacord, Grant Roth and Sergeant Eric Lee of LASD Emergency Services Detail, Air Rescue 5 crew received the California State Medal of Valor award Wednesday.
Wednesday, May 8, 2024
Oct. 18: Via Bash Returns with ‘Color My World’
The Valley Industry Association will host the annual VIA BASH with this year's theme of Color My World on Oct. 18
Wednesday, May 8, 2024
Federal Enforcement Begins of REAL ID May 2025
More than 17.4 million Californians now have a REAL ID, an increase of 139,605 from April 2024 according to the Department of Motor Vehicles.
Keep Up With Our Facebook

Latest Additions to SCVNews.com
Los Angeles County Sheriff's deputies Shane Seacord, Grant Roth and Sergeant Eric Lee of LASD Emergency Services Detail, Air Rescue 5 crew received the California State Medal of Valor award Wednesday.
LASD Deputies Receive State’s Medal of Valor
1990 - Gene Autry's elderly horse, Champion, put to sleep; buried at Melody Ranch [story]
Champion
The Los Angeles County Department of Public Health cautions residents who are planning to visit the following Los Angeles County beaches to avoid swimming, surfing, and playing in ocean waters. 
Ocean Water Warning For May 8
The Valley Industry Association will host the annual VIA BASH with this year's theme of Color My World on Oct. 18
Oct. 18: Via Bash Returns with ‘Color My World’
L.A. County Library is deeply committed to the mental health and wellbeing of all its neighbors.
L.A. County Library Observes Mental Health Awareness Month
More than 96.3 billion gallons of stormwater were captured and stored within LA County’s reservoirs and delivered to spreading grounds for recharge of groundwater aquifers since Oct. 2023 when the storm season began.
County Captures 96.3 Billion Gallons of Stormwater
More than 17.4 million Californians now have a REAL ID, an increase of 139,605 from April 2024 according to the Department of Motor Vehicles.
Federal Enforcement Begins of REAL ID May 2025
Don’t miss out on Wednesday, May 8,  from 10 a.m. to 5 p.m. when California State University, Northridge’s Center for the Interdisciplinary Pursuit of Hip-Hop Elevation & Research Symposium will feature live hip-hop performances, DJ’s, dancers, graffiti installations, food trucks, and more.
CSUN’s Inaugural CIPHER Symposium Returns to Soraya
The Santa Clarita Valley Chamber of Commerce today announced the launch of its newest initiative, "The Voice(s) of Business" podcast in partnership with SCAN Media, LLC and 95Visual.
SCV Chamber Launches Podcast: ‘The Voice(s) of Business’
1875 - John F. Powell, an Irish immigrant, becomes Justice of the Peace [story]
John F. Powell
The Los Angeles County Department of Parks and Recreation in cooperation with Friends of Castaic Lake will host Bark in the Park on Saturday, June 8 10 a.m.-2 p.m.
June 8: Bark in the Park at Castaic Lake
California State Assemblywoman Pilar Schiavo, D-Chatsworth, announced that 18 of her bills have successfully passed out of their respective Assembly policy committees, with most now moving to the Assembly Appropriations Committee.
Schiavo Announces Key Progress on Legislation Package
A 10-week Life Skills course underwritten by the Old West Masonic Lodge No. 813 in Newhall will be offered free to Santa Clarita Valley youth.
Free Life Skills Classes for SCV Youth
The Santa Clarita Valley Water Agency will hold a special board meeting on Monday, May 13 at 6 p.m. Board meetings have been temporarily relocated to the SCV Water Agency Training Room location at 23780 Pine St., Newhall, CA 91321.
May 13: SCV Water Holds Special Board Meeting
The 2024 California Institute of the Arts graduation ceremony will be held Friday, May 10 on the Valencia campus of CalArts. Honorary Degree recipients will include actor Keanu Reeves and director/writer/producer Gina Prince Bythewood.
May 10: Keanu Reeves, Gina Prince Bythewood CalArts Graduation Honorees
Graduation season is around the corner for the graduating seniors of the William S. Hart Union High School District.
Hart High School District Graduation Schedule
Members of the California Institute of the Arts community, industry representatives and friends and family journeyed to Los Angeles's Miracle Mile neighborhood to celebrate Character Animation students’ films at the 2024 Character Animation Producers’ Show.
CalArts 2024 Character Animation Producers’ Show
Princess Cruises, headquartered in Valencia, has announced it will return to San Juan, Puerto Rico after more than a decade, for a season of Southern Caribbean cruises onboard Grand Princess, from October 2025 through March 2026.
Princess Cruises Announces Return to San Juan, Puerto Rico
Join the Santa Clarita Valley Chamber of Commerce Wednesday, May 15, from 5:30 p.m. to 7:30 p.m., for the monthly After Hours Mixer, an evening of networking and fun at Chronic Tacos.
May 15: SCV Chamber After Hours Mixer at Chronic Tacos
Get ready to level up your small business game. The next Los Angeles Region Small Business Summit will be held Thursday, May 9 and features Supervisor Lindsey Horvath, Los Angeles County Team Department of Economic Opportuntiy, city of Los Angeles and partners at Mission College in Sylmar.
May 9: Free Small Business Summit at Mission College
College of the Canyons has captured the 3C2A Southern California Regional Championship, the ninth in program history, after turning its opening round lead into a four-stroke advantage over runner-up Cypress College on Monday, May 6 at Rio Bravo Country Club.
COC Men’s Golf Wins SoCal Title, Advances to State Championship
When every second counts, blood products can provide lifesaving care. The American Red Cross asks the public to give blood or platelets during Trauma Awareness Month in May to keep hospitals prepared for all transfusion needs, including emergencies.
May is Trauma Awareness Month, Blood, Platelet Donors Needed
The city of Santa Clarita has announced the pickleball courts at Bouquet Canyon Park will be closed on Wednesday, May 8, for necessary maintenance on the windscreens.
May 8: Bouquet Canyon Park Pickleball Courts Closed for Maintenance
SCVNews.com