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Media Advisory
February 21, 2003
| Extended Unemployment in California |
| TO: |
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Business and economics writers/editors
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| WHAT: |
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Extended Unemployment in California
California's labor market has not shown much sign of recovery from
the recession that began in 2001. As in the rest of the nation,
employment has remained flat to down, the unemployment rate has
remained at elevated levels, and the jobless are facing increasingly
lengthy spells of unemployment.
In this Economic Letter, economist Rob Valletta uses data
from the monthly national household survey to assess the depth of
California's state and regional unemployment problem and the extent
to which the Unemployment Insurance (UI) extension addresses it.
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| WHO: |
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Rob Valletta, Economist
Federal Reserve Bank of San Francisco
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| WHEN: |
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Available on the Internet - Friday, February 21, 2003 at 9:00 AM PST:
www.frbsf.org/publications/economics/letter/2003/el2003-05.html
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| WHY: |
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To address the national unemployment problem, the federal government
recently renewed legislation that provides extra weeks of Unemployment
Insurance (UI) benefits to unemployed workers who have exhausted
their regular UI benefits. The impact of this legislation will vary
not only across states, but also across regions within large states,
according to their unemployment rates, and the duration of unemployment
spells.
Business reporters researching California unemployment issues and
seeking neutral, third-party input to bring perspective to their
stories may wish to contact Economist Rob Valletta directly at (415)
974-3345 or rob.valletta@sf.frb.org.
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| WHERE: |
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Federal Reserve Bank of San Francisco
101 Market Street between Main and Spear Streets
San Francisco
|
| CONTACT: |
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Carol Eckert, Media Relations Manager, (415) 977-3853
carol.a.eckert@sf.frb.org
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