LA Jobless Rate Stuck In Double Digits
LOS ANGELES (CBS/AP) — The national unemployment rate dropped sharply in January to 9 percent, but Los Angeles and the rest of California saw virtually no improvement.
With unemployment hovering around 13 percent locally, the region continues to have a tough time rebounding from the recession — and some blame high taxes and over-regulation for the reluctance of firms to do business in the Golden State.
KNX 1070's Pete Demetriou reports many Angelenos believe the state's financial viability is a big factor in attracting new jobs.
Podcast
A recent Labor Department survey of company payrolls across the U.S. showed 36,000 net jobs created — barely a quarter of the number needed to keep pace with population growth.
"What we're finding is that there are a lot of folks that are saying that they are starting new businesses or they are self-employed," said Labor Secretary Hilda Solis. "That doesn't always get reflected in the payrolls survey."
(TM and © Copyright 2010 CBS Local Media, a division of CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2010 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
