Saturday, July 18, 2009

The Debts of the Spenders: California Unemployment Rate Breaks 11%

And these are the official rates. One wonders just how bad the situation truly is. Meanwhile, the stock and equity markets continue to price in green shoots. More like green weeds.

The recession continued to punish California as employers cut 66,500 jobs in June to put the state at an unemployment rate of 11.6 percent, the nation's sixth highest.
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