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Weekly unemployment claims still high, but down from March peak

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BAKERSFIELD, Calif. (KGET) – April unemployment numbers come out next week, but preliminary numbers show March’s figures worsening.

59,697 unemployment insurance claims were filed in Kern, Inyo, and Mono Counties between March 21 – May 2, according to figures released by the California Employment Development Department (EDD) Friday afternoon.

The peak in claims occurred during the week of March 28th when 17,050 people filed, according to the EDD. Since, the number of claims of per week has declined; 4,285 people filing during the week of May 2nd.

Before the latest numbers came out, David Anderson, managing partner with Money Wise Wealth Management, spoke on 17 News at Sunrise about the state of the economy. He addressed the national record 16.4 percent drop in retail spending.

“Why is that such a big deal? In our economy we are a spending economy. Spending drives two-thirds of our GDP, so if people aren’t spending, that’s really, really bad news for businesses,” Anderson said.

Anderson said we should not bank on an economic recovery taking place overnight.

“What I would tell people is expect this to take a little bit of time, so make sure you continue to do all you can to get your financial house in order,” he stated.

The state is expected to release official jobs data in its monthly report next week.

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