Friday, April 17, 2009

More Job Losses - California

Via the LA Times, data from California,
California's unemployment rate hit 11.2% with the loss of 62,100 jobs last
month, reaching its highest level since the government began keeping systematic
records in 1976, the state reported today.
The state economy, which has been shedding jobs for more than a year in
nearly all industries, posted the nation's fourth-worst jobs picture, behind
Michigan, Oregon and South Carolina. The national unemployment rate for March
was 8.5%.California's dismal performance is worse than the nation's because of
the state's "greater exposure to the housing downturn and related job losses in
construction and finance," said Stephen Levy, chief economist at the Center for
the Continuing Study of the California Economy in Palo Alto.

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