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California’s Skyrocketing Unemployment Rate

The latest monthly stats are in – for December 2008 – and the unemployment rate in California is a very ugly 9.3%.

Take a look at this chart from the Los Angeles Times:

Does any word other than “skyrocketing” come to mind?

This is serious stuff – this level of unemployment (and particularly the slope of that line) does great damage to any hope of significant recovery in the near term.

Meanwhile, the elected representatives at the state level can’t even agree on a budget – with the state of California projected to run out of cash in something less than four weeks. What a zoo!

2 replies on “California’s Skyrocketing Unemployment Rate”

It’s pretty outrageous that California is running out of funds to handle its unemployment claims and pay out of work Californians what they’re owed, especially since California, unlike most other states which only collect money from the emplorers, actually requires workers to pay unemployment insurance premiums out of their paychecks.

California has super high unemployment. THe jobs are fleeing here. It is a major problem and the media focuses on idiots that bounc/hit balls, celebs sipping lattes, and gitmo terrorists leaving and going to palau–good luck to the tourism industry there!?!
That is the american mentality–dumb forever. In the meantime, millions losing jobs, homes, and the media mostly focuses on stuff that does not impact the real people of usa. Those 20somethings are in real trouble too. Because they have poor work ethic–they like to sit in front of computer doing nothing and drinking 5 dollar coffee living off of there parents.
New america will be people living perpetually in apartments, living in there parents house, living paycheck to paycheck, and living off of relatives and the gvernment. Thank you. this is no longer a first world country. we are heading into developing country.

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