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Yay, more jobs for slaves
County unemployment rate keeps dropping, incomes keep declining
The San Diego County unemployment rate in October declined to 5.8 percent from a revised 5.9 percent in September, according to the California Employment Development Department.
The county added 12,500 jobs over the month, and 34,600 jobs from a year ago. From September to October, government jobs grew the most, up 6800, with a 4100 gain in local education leading the way. Year over year, professional and business services were the big gainer, up 9000 jobs.
But don't do handsprings. Jobs are growing and the unemployment rate is dropping, but incomes are declining adjusted for inflation. Real (inflation-adjusted) median household income in the county dropped from $67,221 in 2005 to $61,426 last year, according to departmentofnumbers.com. It dropped 4.5 percent from 2012 to last year.
Across the United States, the unemployment rate is declining, but inflation-adjusted incomes are also declining. One reason is that people are getting jobs that pay less than the job they had before. This is one explanation why Democrats in the 2014 election did not tout the decline in the unemployment rate during the Obama years; the public knows — or senses — that incomes are down. They were declining in the George W. Bush administration, too. In fact, incomes adjusted for inflation have been declining for decades.
Here's something you might be interested in.
Yay, more jobs for slaves
County unemployment rate keeps dropping, incomes keep declining
Yay, more jobs for slaves
County unemployment rate keeps dropping, incomes keep declining
The San Diego County unemployment rate in October declined to 5.8 percent from a revised 5.9 percent in September, according to the California Employment Development Department.
The county added 12,500 jobs over the month, and 34,600 jobs from a year ago. From September to October, government jobs grew the most, up 6800, with a 4100 gain in local education leading the way. Year over year, professional and business services were the big gainer, up 9000 jobs.
But don't do handsprings. Jobs are growing and the unemployment rate is dropping, but incomes are declining adjusted for inflation. Real (inflation-adjusted) median household income in the county dropped from $67,221 in 2005 to $61,426 last year, according to departmentofnumbers.com. It dropped 4.5 percent from 2012 to last year.
Across the United States, the unemployment rate is declining, but inflation-adjusted incomes are also declining. One reason is that people are getting jobs that pay less than the job they had before. This is one explanation why Democrats in the 2014 election did not tout the decline in the unemployment rate during the Obama years; the public knows — or senses — that incomes are down. They were declining in the George W. Bush administration, too. In fact, incomes adjusted for inflation have been declining for decades.
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