San Bruno, CA – On Aug. 25, the Commerce Department reported that new home sales in July fell 12.4% from the level of sales in June, and were 32.4% lower than July of 2009. This report, which was much worse than most economists expected, followed a report by the National Association of Realtors the day before that sales of existing homes in July fell 27.2% from June, and were 25.5% lower than a year earlier.

San Bruno, CA – In March, 162,000 new jobs were created, according to a monthly survey of businesses taken by the Labor Department. This was the largest number of new jobs created in a month in three years. This positive report may be a sign that the labor market has finally turned a corner following the worst recession in 70 years.

San Bruno, CA – Hundreds of Skyline College students left class and gathered on the campus quad for their Day of Action protest against budget cuts, on March 4. The action was organized by Skyline Against Cuts, which grew out of the students’ struggle against budget cuts last fall. After a short song, Skyline Against Cuts leader Michelle Araica led off the march. As student marshals held open doors, led chants and stopped traffic, nearly 500 students and a dozen or more faculty and staff supporters marched through almost all the buildings on campus, chanting “Hey hey! Ho ho! Budget cuts have got to go!”

_The Good, the Bad and the Ugly _

San Bruno, CA – On Feb. 5 the Department of Labor released their report on the January 2010 job market. The good news in the report was that the official unemployment rate fell from 10.0% in December to 9.7% in January. This is the biggest drop in the unemployment rate since the recession began in December 2007.

San Bruno, CA – On Nov. 18, the California Legislative Analyst’s Office (LAO) announced that the state was facing budget deficits of $20 billion each year for five more years . Over the past fifteen months, California responded to a total budget deficit of $77 billion with a combination of cuts in spending, increases in taxes on working people, federal economic stimulus monies and accounting tricks.