alstry (35.69)

Already at 18.2% Unemployment!!!!!!!!!!!!!!!

August 16, 2008 – Comments (1)

“Cities in the Coachella Valley, which experts say is in a recession, also saw their unemployment rates rise in July. The east valley was hardest hit. Indio rose to 10.1 percent while Mecca saw 18.2 percent unemployment. Desert Hot Springs was also among the highest at 12.6 percent.”

“The impact of the valley’s jobless rate has been apparent over the past two weeks as nearly 4,000 people have applied for about 500 jobs or so at WinCo Foods and SuperTarget in Indio.”

“John Husing, economic consultant to the Coachella Valley Economic Partnership, said the most telling numbers for him came from bi-county data from Riverside and San Bernardino that pointed to a total loss of 22,000 jobs last month.”

“‘We’ve gone into a deep recession,’ Husing said. ‘There is no question about that in the Inland Empire - caused by the cutback in construction, most of which are housing construction.’”

http://www.mydesert.com/apps/pbcs.dll/article?AID=/20080816/BUSINESS05/808160332/1026/news12

Deep recession......how far until Depression??????????????????