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.
On average, there are 5.5 job applicants for every opening, according to Maurice Emsellem, policy co-director at the National Employment Law Project. For those about to lose benefits, the clock is ticking. “Jobs have not been quickly multiplying, so there’s a lot of people who are still in need of assistance.” said Loree Levy, a spokeswoman with the Employment Development Department.
Michigan leads the nation with a 14.1 percent unemployment rate, followed by Nevada at 13.4 percent. California was tied with Rhode Island for the third-highest jobless rate.
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Hopefully companies can finally man up and start offering jobs again, it’s that trickle effect. Person gets job, person gets money, person can finally spend some money in another industry, that industry gets more money, then that industry can start hiring more, etc., etc.
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