California’s unemployment is at an alarming rate of 11% statewide. Few counties have highest unemployment in the nations. Colusa County’s unemployment is 26.6%.
At 10.5 percent, California’s unemployment rate is at its highest level since April 1983 and has increased for 11 consecutive months, economist Steve Levy of the Center for the Continuing Study of the California Economy said on Friday after officials reported on the state’s labor market
The Sacramento Bay put together a nice geographical view of unemployment in California
Construction (down 6,800 jobs), retail trade (down 6,200 jobs), and financial activities (down 5,100 jobs) accounted for close to 60 percent of the area’s job cutbacks compared to a year earlier.
California is suffering more than many other states and its unemployment rate is running ahead of the national average because the state had one of the nation’s most overheated housing markets earlier this decade and because its labor force is growing at a time when companies are cutting payrolls, Levy said.
Slowing international trade through California’s ports, which are major gateways for exports to and imports from Asian markets, also is hurting the state’s jobs market, Levy said.
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