The economy is supposedly improving but people still continue to lose jobs. The unemployment rate being a lagging economic indicator is predicted to increase through the rest of the year and beyond even though it is decelerating. California with one of the highest unemployment rates (12.1%) as of the end of July 2009 among the US states, and higher than the average national unemployment rate, will probably continue to bleed more, longer. In certain counties in California the unemployment rate is even higher than the state average. For example, as of the end of July 2009, LA County is at 12.5% and there are counties where the rate is as high as 30%!
Read the rest of this entry →