Losing job by the bread winner of the family has been identified as one of the disastrous consequences of economic recession.
Ever since the US economy started its downturn, there emerged innumerable problems like the foreclosure fiasco, arising out of the ballooning effect of adjustable rate mortgages, the primary home loan feature, many of the unwary Americans fell for.
The crisis was further aggravated by job losses, which made millions of US households, unable to meet their mortgage commitment and became delinquent.
The latest report from the Bureau of Labor Statistics, along with the safety-net updates from Working Partnerships USA and the United Way of the Bay Area has thrown more light on this problem.
These two Bay Area non-profit organization groups reveal that high unemployment continues to strain the social safety net of the SF Bay area.
Between April 2009 and April 2010, federal figures show somewhat higher percentage of jobs had been lost in the Bay Area than the rest of the nation.
Now according to the figures reported by the Bureau of Labor Statistics, the nationwide job count shrank 1 percent from April 2009 to April 2010.
The above report suggests that many residents of the Bay Area continue to suffer from the unemployment problem, although signs of economic recovery have been noticeable.
Five of the 9-county Bay area namely - Alameda, Contra Costa, Marine, San Francisco and San Mateo - went on to experience 3.
4 percent decline from last year in the employment opportunities.
However, the solace is farther south in Santa Clara and San Benito counties, the job losses were not that severe.
In this region, the year-over-year pay rolls fell 1.
9 percent - a figure above the US average - but slightly less than the other regions of Bay Area.
Incidentally, the Working Partnerships, a foundation-supported group based in San Jose coincided in its release of its third annual report on "Life in the Valley Economy", focusing on middle and lower class issues, on the same day when the Bureau of Labor Statistics released its figures.
There are more facts causing concern such as - Job loss is the No.
1 reason for foreclosure problem suffered by Silicon Valley youths and adults, where over 12,000 of them were homeless at some point of time during 2009.
The number of people who were receiving food stamps has jumped 53 percent, ever since the recession started in December 2007 In Santa Clara County the education of kids has fallen down - from 93 percent of high school graduation rate in 2003, it has fallen to 82 percent in the year 2008.
Also there was unprecedented drop in college attendance rate in Santa Clara County - where the high school graduates attendance fell to 36.
5 percent from a good 52.
5 percent recorded in 2007.
With a view to gauge the impact of recession on demand for services, the San Francisco-based United Way of the Bay Area, surveyed somewhere around 1,680 non-profit groups and found while the demand was up ways ahead, the revenues were down.
Ever since the US economy started its downturn, there emerged innumerable problems like the foreclosure fiasco, arising out of the ballooning effect of adjustable rate mortgages, the primary home loan feature, many of the unwary Americans fell for.
The crisis was further aggravated by job losses, which made millions of US households, unable to meet their mortgage commitment and became delinquent.
The latest report from the Bureau of Labor Statistics, along with the safety-net updates from Working Partnerships USA and the United Way of the Bay Area has thrown more light on this problem.
These two Bay Area non-profit organization groups reveal that high unemployment continues to strain the social safety net of the SF Bay area.
Between April 2009 and April 2010, federal figures show somewhat higher percentage of jobs had been lost in the Bay Area than the rest of the nation.
Now according to the figures reported by the Bureau of Labor Statistics, the nationwide job count shrank 1 percent from April 2009 to April 2010.
The above report suggests that many residents of the Bay Area continue to suffer from the unemployment problem, although signs of economic recovery have been noticeable.
Five of the 9-county Bay area namely - Alameda, Contra Costa, Marine, San Francisco and San Mateo - went on to experience 3.
4 percent decline from last year in the employment opportunities.
However, the solace is farther south in Santa Clara and San Benito counties, the job losses were not that severe.
In this region, the year-over-year pay rolls fell 1.
9 percent - a figure above the US average - but slightly less than the other regions of Bay Area.
Incidentally, the Working Partnerships, a foundation-supported group based in San Jose coincided in its release of its third annual report on "Life in the Valley Economy", focusing on middle and lower class issues, on the same day when the Bureau of Labor Statistics released its figures.
There are more facts causing concern such as - Job loss is the No.
1 reason for foreclosure problem suffered by Silicon Valley youths and adults, where over 12,000 of them were homeless at some point of time during 2009.
The number of people who were receiving food stamps has jumped 53 percent, ever since the recession started in December 2007 In Santa Clara County the education of kids has fallen down - from 93 percent of high school graduation rate in 2003, it has fallen to 82 percent in the year 2008.
Also there was unprecedented drop in college attendance rate in Santa Clara County - where the high school graduates attendance fell to 36.
5 percent from a good 52.
5 percent recorded in 2007.
With a view to gauge the impact of recession on demand for services, the San Francisco-based United Way of the Bay Area, surveyed somewhere around 1,680 non-profit groups and found while the demand was up ways ahead, the revenues were down.
Source...