More Good News: California Funemployment Rate Hits 12.5%

Since Dingy Harry and the Democrats are today celebrating the loss of 36,000 jobs, they'll be so ecstatic at this news they may need plastic surgery to wipe the smiles off their faces.

California employers added 32,500 to their payrolls in January, a sign that the state's moribund labor market might finally be stirring to life.

The gains came as sectors throughout the economy, including construction and manufacturing, started to hire workers, according to numbers released Friday by the Employment Development Department.

The state's unemployment rate increased slight to 12.5% in January, up from a revised 12.3% the previous month, as formerly discouraged workers who had dropped out of the labor force began job-hunting again.

California's unemployment rate remains well above the national rate of 9.7%. But it's not likely to climb much higher, said Sung Won Sohn, an economist at Cal State Channel Islands.

"In California, I think we are probably nearing the peak in the unemployment rate," he said. "It's very easy to be gloomy about overall picture, but I see some strengths."

Yes, it's easy to be gloomy, especially when you live in the real world, where funemployment isn't all it's cracked up to be.