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| For Immediate Release January 17, 2003 |
Sacramento, CA- - The Employment Development Department released California’s official December unemployment rate today and, for the 24th consecutive month, the state’s manufacturing job base declined.
2,100 manufacturing jobs were lost (seasonally adjusted) in December and the overall unemployment rate for the state increased from 6.5 percent to 6.6 percent.
“Once again the most important component of the state’s private sector job base has weakened, leaving us with more than 188,000 lost manufacturing jobs over the last two years,” said CMTA President Jack M. Stewart. “How many more families have to lose their jobs before the state legislature and regulatory agencies realize the inherent need for economic policies that stimulate economic activity and job growth?”
After a week of reading misguided editorials denouncing the Governor’s call for an extension of the Manufacturer’s Investment Credit (MIC), this unemployment report indicates what will continue if the state does not find ways to offset California’s high cost of doing business.
“This month, there will be 2,100 more people collecting unemployment and not paying income taxes into the much denuded state coffers -- A dynamic, the large budget deficit can ill afford. What Republicans and Democrats must agree on right now is that policies that seek to lessen the burden on our job producers have a direct correlation on the high wage jobs that we keep and grow.” Concluded Stewart.
CMTA is so concerned that the state’s job loss has declined so consistently over the past two years, it has created an online grassroots program to help connect companies with legislators this year on the issues that will help stimulate our economy and job base. CMTA will use this online system to keep manufacturers informed this year on both damaging legislation and business stimulus proposals.
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