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|Wednesday, April 01, 2009|
The magazine staff each month waits for the state to release its latest unemployment figures, whistling past the graveyard a bit by guessing what the new percentage will be. But in mid-March, when the rate for February was released, even this grizzled group that’s been saturated in the bad news of the economy for more than a year was startled. The 10.8% rate was beyond any of our guesses.
My old friends from the newspaper industry are in really deep Bandini. The newsroom I left in southern California five years ago is about half the size it used to be, much like newspaper staffs around the country. Some of those folks have ended up re-employed, but many have not and are still looking for jobs after a year, despite their years of experience, college degrees and awards. The local publishing scene, including us, has had its share of layoffs and budget cuts. Our terrific interns — all college grads — here at the magazine are finding their journalism prospects grim. One was so discouraged he applied to the Peace Corps.
Waiting for the ax to fall has become part of daily life, whether you’re head of a company or working the night shift. Maybe that’s why so many people still start their own business despite the crummy economy (see page 32 for our story). At least they don’t have to worry about getting that awful tap on the shoulder.
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