Explaining Southern California's economy

November Jobs Report: Not as bad as the California weather

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Mark Ralston/AFP/Getty Images

Unemployed father of two, Michael Lopez waits for work outside a temporary labor office in the Southern Californian town of El Centro, a town of 50,000 people where 30.4 percent of the work-age population are without employment, on October 28, 2010.

As many of you know, our California weather took a zany and destructive turn on Wednesday, with 60-80 mph Santa Ana winds whipping down from the desert and decimating the urban treescape of places like Pasadena. It was the worst wind anyone had seen in years. 

The BLS jobs report, on the other hand, didn't look too terrible for November. The country added 120,000 jobs last month, which was a lot lower than than the 206,000 the ADP report predicted earlier this week. But still, better than the revised October number of 100,000 (up from 80,000). 

The unemployment rate dropped from 9 percent to 8.6 percent, a surprising downward trend (subject to revision, of course) that could bode well for something like a 7-percent unemployment next November. In other words, good news for President Obama's re-election chances, even though the White House isn't predicting 6-percent unemployment rate until 2017.

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