Long seen by economists as a truer marker than the traditional unemployment rate, CA's underemployment rate hit a shocking 22% in September. Per the Chron: "That figure includes 1.9 million jobless Californians, 1.4 million people who had to work part time, and 865,000 adults loosely described as discouraged." (Full chart after the jump.) Many of those working part time are people who were furloughed or otherwise given fewer work hours rather than being laid off. And those "discouraged" folks are the ones who no longer qualify for unemployment and who have basically given up on looking for work.
CA Underemployment Rate Hits 22%
'Pink Slip Parties' Return
Not unlike speed-dating events where desperation and forced smiles hang thick in the air, so-called 'pink-slip' parties are allegedly making a comeback. These were popular during the dot-com bust eight years ago where the "funemployed" gathered to "network" and coach each other toward better job prospects. We think there used to be booze involved, but anyway ABC News brings us this story about one such party over Labor Day weekend in San Jose, hosted by these people, where folks gathered to learn about things like Facebook, and to be told that they might need to find a new field.
SF Weekly Catches On to 'Funemployment'
Whether you're an optimist or a pessimist, getting laid off from your job in the shittiest economy in decades isn't exactly swell news, but certainly we live in one of the best cities anywhere to be jobless and broke. In addition to a multitude of cheap food options and pretty parks to sit in and drink beer, there are free outdoor movies and wine country right up the road where some wineries still don't charge for tasting. And there's also the laid back, relaxation-before-ambition ethos that's endemic here and that we all know and love.

