Reporting from Sacramento -- California's unemployment rate jumped to 9.3% in December -- the highest in 15 years -- and with more layoffs expected, economists predicted even higher numbers for the rest of the year.
The state Employment Development Department today reported that the December jobless rate was up almost a full percentage point from 8.4% in November. It stood at 5.9% a year earlier.
The rate for Los Angeles County, which like the state number is seasonally adjusted, was 9.9% for December, up from a revised 8.9% for November.
"It's an ugly report," said Howard Roth, chief economist for the state Department of Finance. "We're in the grips of a formidable recession," with the highest unemployment since January 1994.
Arnie could care less about our budget or unemployment he's busy looking for a job. California can make money with the tax on the ships that dock but Sarah Palin told him not to and Arnie obeyed her orders. Arnie doesn't have time for the job as he's still catching woman and he still doesn't wear his underwear.
ReplyDelete