California Unemployment Rate Hits A Record 12.6 Percent
California unemployment rate
The California Employment Development Department reported today that California’s unemployment rate hit a modern record of 12.6 percent in March.
More than 2.3 million Californians remained unemployed, with 362,000 more people jobless than a year ago. California’s jobless rate grew from 12.5 percent in February after holding steady for a month. The rate was 10.6 percent in March 2009. Read more 
California Unemployment Jumps To 12.5 percent
unemployment rate
The U.S. Bureau of Labor Statistics reported that California unemployment hit 12.5 percent in October to set another modern record. California was one of 29 states reporting unemployment rate increases. Only three states – Michigan, Nevada and Rhode Island – had higher rates than California last month.
The rate is just slightly higher than September, when officials reported a jobless rate of 12.2 percent. It was 8 percent a year ago.
Carlsbad California real estate
Unemployment in California Jumps to New High
California unemployment
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.
San Diego downtown real estate
What Happens After Our Economic Storm Passes?
The unemployment rate in San Diego County rose to a record high of 9.3 percent in March, up from 8.9 percent the previous month, the state Economic Development Department reported Friday. The March unemployment rate in San Diego County is the highest to be recorded since the way the figures are calculated was changed in 1990.
San Diego real estate market: The longer term trend still seems to be looking toward a lot more pain as there are major economic and social changes that will have to be worked out before a sustained recovery can happen and these will take many years. There are also trillions in debt that will have to be mitigated before main street recovers and that is bad news for financial institutions.The International Monetary Fund (IMF) believes we've only acknowledged $1.29 trillion of the $4 trillion in total global credit losses to date. That means we're not even a THIRD of the way through the process.
To me it seems certain that when this economic storm has passed, we will no longer hold the global economic high ground. Can't happen here? Consider that the economic high ground has changed every 250 years for the last 750 years. The Dutch lost the economic high ground to Spain. History remembers it as the Tulip Bubble. 250 years later, Spain lost it to England and England lost it to us 250 years ago. We are in the process of losing the economic high ground to China.
Each of those economic transitions was caused by the same two conditions: The losing country had accumulated more debt than their economy could support and the losing country had such incredible hubris they were unable to see it. San Diego real estate blog