U.S. Unemployment Rate Takes Toll
California's job market looks bleak. In Anaheim, hundreds have turned up at a local job fair, hoping this will be the place where they'll meet their future employers. But the odds aren't great.
The department is scheduled to release the national unemployment report for November on Friday. October's 10.2 percent unemployment rate was the highest it's been for 27 years. Most experts don't think the number will improve.
That's bad news for the attendees of the Anaheim job fair, many of whom have been out of work for months.
[Barbara Lynn Tuthill, Job Seeker]:
"I got laid off last January and I've been looking on the Internet every day. I have eight employment agencies also looking for me and I'm getting nowhere."
Companies are cutting fewer jobs, but it doesn’t mean they're hiring.
[Ken Ryan, Job Seeker]:
"It's also harder because of the nature of the slight rebound that we are seeing, each worker is becoming more productive, so the employer can now be profitable without hiring people."
And some who have lost their jobs have also lost their homes.
[Louie Zepeda, Homeless Job Seeker]:
"I had a job with a local communications company and I lost the job, and unfortunately, things went downhill. I couldn't find something else, so money ran out and I ended up here. I was evicted and I ended up here."
And most companies are reluctant to hire someone who has no home. So, homeless job seekers have a difficult time looking for work.
It will likely take several years for the unemployment rate to fall back to levels seen before the recession hit.