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From 11.9 percent in July to 12.2 percent in August, todays announcement of last month's unemployment rate has California breaking records, once again The number rose in 27 states last month, 14 of which that are in double digits. Three other states--Michigan, Nevada and Rhode Island--have higher rates than California. And experts predict that the numbers will continue to increase as the year goes on before they flatline. Nationally, unemployment rose to 9.7 percent in August, a 26-year high. A Job Market Competition index released last month by Indeed.com said Los Angeles ranked 47 out of 50. Ouch.
California Unemployment Goes Up; Records Broken, Again
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Begley is a raving nutball and he is dead wrong. StrokerMcgurk
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LA-LB-Glendale unemployment jumped to 12.3% from 11.9%.
CA Net job creation from Aug 08 to Aug 09 was -741K.
Oregon doesn't have a higher unemployment rate, but they are 12.2% the same as CA. So that's 3 neighboring states in the ranks of the 5 states with the highest unemployment rates.
As bad as the job numbers, and will get, it's not indicative of the economic situation.
The job market recovers AFTER economic recovery has occurred.