Weak Housing Market Hurts Job Picture
Tuesday, March 1, 2011
California's job market is among the worst in the country in a new Gallup Poll.
The results of the Gallup Job Creation Index show there's not much optimism about California's ability to create jobs this year. Gallup polled 200,000 people asking if companies are adding workers or laying people off. The difference becomes a state's job creation index. California was third worst with a score of zero. Nevada and New Jersey had negative scores.
The average for all states was a plus seven.
The survey says a troubled housing market continues to hurt the San Diego job market.
"It's a situation that will not change soon," said Michael Lea of San Diego State University's Corky McMillian Center for Real Estate.
"Because of the over-building in the past and all the continuing problems in the market, we're seeing no new construction jobs being created. In fact, we're seeing continued losses," said Lea. "We still have a lot of underwater borrowers, a lot of foreclosure problems, and these have to be worked out."
California has found itself in the bottom 10 of the Gallup job creation index list for three straight years.