Cochise County loses jobs, sees unemployment rise
Mon, 07/05/2010 - 1:52am
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For the Herald/Review
According to figures released by the Arizona Department of Commerce, Cochise County lost 100 jobs in May. In the 12 months ending in May, Cochise County lost 650 jobs for job growth of -1.7 percent.
Cochise County’s unemployment rate increased from 8 to 8.4 percent in May but remained the lowest of Arizona’s 15 counties. The statewide unemployment rate in May increased from 9.5 to 9.6 percent. Nationally, the unemployment rate decreased from 9.9 to 9.7 percent.
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This shouldn’t come as a surprise to anyone. Arizona was particularly
vulnerable to this economic downturn because state has spent the last two
decades leveraging its future on a retirement boom that has fizzled.
Construction, hospitality and non-federal government positions took the
biggest hits and, as anyone wjo works in the construction industry can tell
you, it’s still ugly out there. Three decades of deregulation have eroded the
entire nation’s manufacturing base, so job recovery after every recession
since the mid 80s has taken progressively longer. That trend, coupled with
the worst economic crisis this country has seen since the 20s means that jobs
are still not going to come back for a while. Of course, Sierra Vista is
suffering less than most of Cochise county because it’s a virtual socialist
experiment, thriving alongside a river of federally redistributed wealth.
The poor economy is taking its toll on Cochise County.
Amazingly, we are seeing that Credit expansion and deficit spending are not
getting us out of a problem caused by credit expansion and deficit spending.
Maybe the increase in unemployment was all the teachers and para professinals
who received pink slips?