California Unemployment –Chicks On The Right
(Bloomberg/Businessweek) San Jose based Cisco Systems announced yesterday that they will be cutting 4,000 employees–about 5% of its workforce.
On the 30 July, I wrote here that employees of the San Onofre Power Plant learned that 900 of them would be laid-off by Labor Day.
All of this dismal economic news is occurring while Obama claims that the economy is improving, as personal income dropped 5.3% during the first quarter of 2013 and California lenders filed 25,747 notices of default between April and June, an increase of 38.7% from the previous quarter.
H/T: California Political News
Related: Unemployment & Underemployment Remain High in California
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