California Unemployment Goes Up; Records Broken, Again
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.