California's state unemployment rate dropped 0.2% from 9.8% in January down to 9.6% in February. Despite the improvement, California tied with Mississippi and Nevada for the states with the highest unemployment rate.
Remember how the "Affordable" Car Act (ACA), a.k.a. ObamaCare would going to make health care--er, well--affordable? As usual, be afraid when somebody says, "I'm from the government and I'm here to help you." Here's our small business' real-world experiences with ObamaCare. We are admittedly a small company so our experience, while certainly not unique, may not apply universally. The number of employees has not changed since 2008.
Note the rapid procession of increases after President Obama proposed what eventually become the "Affordable" Care Act (ACA) and the large increase (30%!) shortly after the President signed the bill into law after it passed Congress on a one-party, majority-forced vote.
According to the Society of Actuaries, even more "good news" awaits California's small businesses, with up to 62% more increases coming by 2017. Supposedly, there will eventually be a small business credit under ACA, but I'll believe it when I see it. Currently, it just means that our health care insurance costs have DOUBLED in the last four years with no improvements in benefits or services. Thank you, Washington! It's there somebody else that needs your "help"?
Now, back to figuring out how to double our revenues in less than four years to pay for all this "help".
The Department of Labor's Bureau of Labor Statistics (BLS) released the January 2013 seasonally-adjusted unemployment rate for each state. This release was delayed from late February until mid-March, perhaps because the BLS was adjusting the last two years worth of data.
Regardless, California's unemployment rate remains stubbornly steady at 9.8%. Thanks to big improvements by Nevada in January, California is now tied for worst unemployment with Rhode Island.
The BLS will release the February 2013 unemployment data on 29-MAR-2013.