Friday, July 20, 2012

Bay Area unemployment rates jumped on an unadjusted basis in June

http://www.insidebayarea.com/bay-area-news/ci_21120084/bay-area-unemployment-rates-jumped-an-unadjusted-basis

Bay Area unemployment rates rose dramatically in June on an unadjusted basis, with the region's counties showing increases of 0.3 percent and 0.5 percent from May.

Unemployment rates are typically adjusted for seasonal variances, but the California Employment Development Department's unadjusted numbers for June show stagnant job growth has greatly affected the Bay Area. In Santa Clara County, the unadjusted unemployment rate rose from 8.2 percent in May to 8.7 percent in June, the largest leap. Alameda County rose from 9.1 percent to 9.5 percent, Contra Costa County from 9 percent to 9.4 percent, San Mateo County from 6.8 percent to 7.1 percent, and San Francisco County from 7.4 percent to 7.8 percent.

Seasonal adjustments can have a dramatic effect on unemployment rates. For instance, California's overall unemployment rate rose from 10.4 percent to 10.7 percent in June on an unadjusted basis, but fell from 10.8 percent to 10.7 percent when seasonally adjusted. The national unemployment rate rose from 7.9 percent to 8.4 percent on an unadjusted basis in June, but stayed stable at 8.4 percent when seasonally adjusted.

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