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California’s Unemployment Rate Hits New High, 12.6%…

California’s unemployment rate reached a new high in March, hitting 12.6%, bolstering fears that unemployment will remain a persistent problem through at least the end of the year. The unemployment rate in February was 12.5%.

California was tied with Rhode Island for the third-highest unemployment rate in the nation, after Michigan and Nevada, according to data released Friday morning by the Bureau of Labor Statistics. The national unemployment rate in March was 9.7%.

Though the Golden State added jobs, more than 2.3 million Californians are still unemployed. The struggle for some is about to get tougher. Tens of thousands have been out of work so long, they will see their unemployment checks cut off within the next few weeks.

Despite Obama’s approval on Thursday of an $18-billion measure that extends jobless benefits for many Americans through June 2, the Employment Develop


Added: Apr-16-2010 
By: jumpingforJoy
Tags: California’s Unemployment Rate Hits New High, 12.6%…
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