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When Will The Unemployment Rate Go Down In The Central Valley? |
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Written by Administrator
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Thursday, 27 January 2011 08:02 |
When Will The Unemployment Rate Go Down In The Central Valley?
Unemployment is simply a measure of people seeking work. 100% Unemployment doesn't mean everyone is unemployed ... it simply would mean everyone seeking work can't find a job. The fact that its in the double digits means lots of Valley Residents are out of work.
It is believed that unemployment should start going down in 2012 or 2013.
The biggest challenge for the Valley will be the mix of jobs available versus what the residents are capable of doing. During the past decade, construction, home sales and related financial & insurance jobs were created due to the once attractive home market in the Valley. These are typically low education intensive jobs that don't give the employee much options if there is no construction or home sales. Because home sales are tied so closely to employment levels, the Valley will have a difficult time creating new jobs because the two work against each other.
The reason why the Unemployment level will go down slowly is because Valley residents need to be re-skilled or educated to learn a new trade. This takes time, as college courses and training takes months or years to complete. Often times residents are too busy or lack the funds to go back to school, so the process will take years to reverse. In addition to that, many people 40 - 50 years of age are finding that computers and complete knowledge of how to use one is a requirement of almost every position available ... many have trouble competing with the younger generation that grew up using the internet from an early age.
The Valley unfortunately is known for Farming and Construction jobs, which are highly seasonal and low education level positions. When the economy is 'bad' employers don't need to attract low skilled workers because there are tons of them out there looking for work. In tough economic times, employers look for highly qualified and educated workers because even they have trouble finding a jobs that meet their qualifications. If the Valley wants to solve the unemployment problem, developing more jobs that require higher education levels and skills is the way to build a solid economy that can survive tough economic times.
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Last Updated on Thursday, 27 January 2011 08:08 |
Category Blog 
