Wednesday, December 10, 2008

California Unemployment Soars

California has seen unemployment rocket to 8%+ in recent months as the state was the center of the housing boom and current bust. The wide dispersion in the state is rather remarkable. As reports:

The highest metropolitan unemployment rate was 27. 6 percent in El Centro, Calif., followed by 19. 5 percent in nearby Yuma, Ariz.

El Centro (birthplace of Cher) has seen unemployment soar to that 27.6% clip, up about 6% from last year, and according to Forbes is one of the 10 Spots 'Where U.S. Homeowners Are Losing Value Fastest', ranking at #5.

Otuside of El Centro, California has an assortment of cities with unemployment over 10%. No wonder the Governator has declared a fiscal emergency.

Source: BLS

1 comment:

  1. How about increasing taxes on the productive/successful citizens and transferring their wealth to the rest? :)

    Raise taxes, borrow more money, increase government spending... and you get California.