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Unemployment Increases to 12.4% in California
The jobless rate in California increased by a tenth of a point from 12.3% in August, according to information released by the state today. A year ago, the rate was 12%.
"The California unemployment rate surpassed the national level as the longest recession since the Great Depression continues to hammer the state," added Bloomberg. "The state jobless rate has been 12 percent or more for the past 12 months, reaching a high of 12.6 percent in March..."
The news comes on the heels of a UCLA report that concluded California will continue to see slow growth and high unemployment as the recession recovers. The State's unemployment won't dipped below 10% for two years, it predicted.
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