Recession starts showing up in L.A. County unemployment rate, topping 6% in October.Recession starts showing up in L.A. County unemployment rate, topping 6% in October The rate of unemployment in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County rose to 6.2 percent in October, 2 points higher than the rate of 4.2 percent in October 1989, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the State of California Employment Development Department. The biggest job losses were in the manufacturing and construction industries, while the biggest employment gains were recorded in the service and retail trade industries. Between April 1990 and September 1990, 15,600 jobs in Los Angeles County were lost in the manufacturing industry, according to Jay Horowitz, labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience analyst for the Employment Development Department. Department statistics show that 18,300 jobs were lost between July 1989 and September 1990 in the high-tech segment of the manufacturing industry alone. "A large number of these employee reductions are resulting from federal defense budget cutbacks and general internal pressures within that segment to lower costs," he said. In a sense, "it's about time It's About Time may refer to:
"The unemployment rate was ridiculously low at the beginning of the year," he said. Sanchez said he doesn't expect the unemployment rate in California to turn around until the end of 1991 because the slump in the economy will not flatten until the middle of 1991 and the unemployment rate always lags behind. The national unemployment rate is currently 5.9 percent, .3 of a point lower than Southern California's. Nake Kamrany, professor of political economy at USC An abbreviation for U.S. Code. , said one reason for the disparity is the influx of immigrants to the city. The number of immigrants to Los Angeles from Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Europe and the Far East has increased the labor pool, he said. Kamrany took an optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op view of the unemployment rate. "This rate does not really tell you that there is a recession yet," he said. The natural unemployment rate is 6 percent, and the rate in Los Angeles is still in that range, he said. |
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