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| For Immediate Release June 16, 2003 |
Sacramento, CA- - The Employment Development Department’s unemployment report revealed last Friday that California’s manufacturing job base continues to fall, losing another 4,000 manufacturing jobs in May. A total of 287,200 jobs have been lost in the sector since the decline started in 2001 – an 15 percent decline in the industrial workforce.
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“Two and a half years of continuous manufacturing job loss threatens to keep California in a perpetual budget deficit, said CMTA President Jack Stewart. "For this reason we need economic stimulus and business reforms linked to the state budget this year.”
In a press release last week, the Governor called for the continuation of the Manufacturers Investment Credit (MIC) as a means to saving and creating new jobs in the state. As one of the association’s 12 reforms, CMTA strongly supports the Governor and his directive to keep the MIC.
“Costs on California manufacturers are clearly one of the largest drivers in this unprecedented decline in high wage jobs. Continuation of the MIC will encourage businesses to invest and grow in California and offset some of those costs. Without it, we will send a message that California does not care about keeping and attracting manufacturing jobs,” concluded Stewart.
Other important reforms include a workers’ compensation overhaul, a re-allocation of electricity rate increases and a moratorium on new and increased regulatory fees.