zeptember

I can’t find anything yet for California’s September unemployment stats, but the BLS has this:

State Unemployment (Seasonally Adjusted)

In August, Michigan and Rhode Island posted the highest jobless
rates, 8.9 and 8.5 percent, respectively. Six additional states
recorded rates of more than 7.0 percent: California and Mississippi,
7.7 percent each…

Their website also says, “Regional and State Employment and Unemployment: September 2008 is scheduled to be issued on Tuesday, October 21, at 10:00 A.M. Eastern Time.” But I thought I used to find info before then from something local like the Mercury News. Then again, even the EDD doesn’t have anything for a couple more weeks.

And there’s this, from the SocialistWorker.org. It gave a lower figure for some reason. Ooops. But it says, “California’s unemployment fund is also running out of cash–as statewide joblessness hit a 12-year high of 7.3 percent in August. About $662 million–in July alone–was paid out to jobless Californians. By the close of 2009, the state unemployment fund is expected to run a $1.6 billion deficit. By 2010–in a severe recession–the shortfall could reach $3.5 billion”.

9:06am Edit:
Schwarzenegger to U.S.: State may need $7-billion loan
By Marc Lifsher and Evan Halper, Los Angeles Times Staff Writers
October 3, 2008
SACRAMENTO — California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.

The state of California is the biggest of several governments nationwide that are being locked out of the bond market by the global credit crunch. If the state is unable to access the cash, administration officials say, payments to schools and other government entities could quickly be suspended and state employees could be laid off.