California Budget Project Labor Day Report
The California Budget Project reports nearly one million Californians have been out of work now for more than half a year. The number of Californians who have been unemployed for the last six months is now bigger than the population of San Francisco.
Recent high school graduates have been hard hit by the economic downturn. The new report also shows young men are having a tougher time than young women.
Alisa Anderson, the report’s author, said her findings show one of the age groups most affected by the recession is 16- to 24-year-olds.
"One of the most striking findings in our report is that, for the first time on record, a smaller share of out-of-school youth had jobs than Californians’ approaching retirement age."
Anderson said the number of 55 to 64-year-olds who are still working has been increasing steadily since the early to mid 1990s. She said that may be because many people saw their retirement savings evaporate in the last few years.
The report says job losses for young men fell three times more than the jobs lost for young women because of the decline in construction and manufacturing.
Anderson says even people who have a job are affected by cutbacks in hours.
"The latest data show that the average work week in California reached a 25 year low," she said, "and if you add up all the hours that have been cut during the recession in California, you could actually create more than 400,000 full time jobs out of those hours."