The U.S. Labor Department reported today that California lost 35,800 jobs in July.
California’s unemployment rate in July of 11.6% was a post- World War II record. So far, California lost 760,000 jobs over the last year.
California is among 15 states and the District of Columbia that have jobless rates above 10 percent.
Unemployment rose in 26 states in July, but overall the jobless rate notched down to 9.4 percent in July, from 9.5 percent in June.
In regards to foreclosure, prices will continue to decline until unemployment stops growing.
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