Did the recent Humboldt Economic Index fool you into thinking that THC might have been wrong when we said job creation for Humboldt County was in the dumps? Guess again, sports fans. It’s the truth.
If you dig deeper into the numbers, you’ll see that 800 of the 1100 net jobs that were added in the county over the last year came in three sectors: 1.) Government (200 jobs), 2.) Trade, Transportation (translate: Government) and Utilities (translate: Government) (300 jobs), and (3) Education and Healthcare (translate: both almost entirely Government) (300 jobs).
Doesn’t take a rocket scientist to know nearly all of those services in Humboldt are dependent on taxpayer money.
Remember when we said the Economic Development department for the county wasn’t doing a whole lot other than creating jobs for themselves? Well, turns out that trend holds true across the entire county.
We would hate to say we told you so…but we will let this study on city pension cost burdens do it for us. If you take a quick look at the report, you’ll notice that our sparkling County Seat of Eureka is listed as 10th on the list of California cities with the highest level of pension spending burdens in all of California. 11.3% of Eureka’s revenue goes to funding pension contributions.
Okay, okay, we spend a lot of money on pensions, so what?
Hmm…Did you know that Humboldt is about $213.1 million dollars in the hole already as a result of unfunded pension liability? We need more pension-collecting employees like Stevie Wonder needs a color television.
But since we just hired on a whole bunch more of publicly-funded nitwits, pension expenses and debts will keep going growing unless we as a community speak up. This is great news for cities that want to be just like Eureka. It’s bad news for the future of our county