September 2009 Archives

September 1, 2009

Los Angeles loses most jobs in U.S.

Los Angeles was the nation’s biggest loser in employment during the past 12 months, according to figures released by the U.S. Bureau of Labor Statistics. The Los Angeles area lost 240,100 jobs between July 2008 and the same month this year, the biggest decline in raw numbers anywhere in America. The second biggest losers were the Chicago and New York City markets with losses of 206,200 and 157,900 jobs, respectively.

Filed under California Economy by

September 5, 2009

Chevron to work with USAID on Angola’s economic development

Chevron Corp. will work with USAID and another group to support economic development in Angola. The San Ramon-based oil giant will work with the United States Agency for International Development (USAID) and the Cooperative League of the United States of America (CLUSA) on this project. Secretary of State Hillary Clinton witnessed the Memorandum of Understanding (MOU) for the project in Angola’s capital, Luanda. The partnership is intended to support financial, educational, technical and training services to improve the viability of small and medium scale farmers in the southern African state. According to Chevron spokesman Scott Walker, the MOU is an extension to the $56 million Angola Partnership Initiative, created in 2002. The new MOU focuses on agricultural initiatives to increase yield and market share for small to medium scale farmers. Chevron didn’t disclose how much funding it will provide for the program, but itsoil interests in Angola include the Tombua-Landana Project, which is projected to achieve peak production of 100,000 barrels of crude oil per day as of 2011. Read the full story here.

Filed under Angola, Energy Industry by

September 7, 2009

California loses 127,000 Manufacturing Jobs

California was the second-largest loser of manufacturing jobs — 123,400 — over the past year, according to the U.S. Bureau of Labor Statistics. Only Ohio lost more more jobs than the Golden State: 127,000. A report by the Milken Institute released earlier this summer reached a similar conclusion, but noted that the state is hemorrhaging high-tech manufacturing jobs at an even higher rate than in traditional manufacturing industries. California’s employment in this high-wage, high-skill segment is down 23 percent from 2000 levels, as opposed to declines nationally of 19 percent and the peer states’ average of 16 percent. In fact, from 2003 to 2007, encompassing the recovery of the high-tech sector, the peer states gained 24,000 high-tech manufacturing jobs while California lost almost 16,000.

“Widespread misconceptions about the manufacturing sector in California are part of the problem,” said Perry Wong, senior economist and one of the authors of the report. “People don’t understand that manufacturing is an integral part of the high-tech and clean-tech economy. If Californians want to build the future economic recovery on high-tech and retain highly skilled workers, they have to address the underlying issues of this sector now.”

Filed under California Economy, Manufacturing by

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