So Goes California, So Goes the Nation?
by Frank DeMartiniI have been a California resident for the past 23 years. During that time, I have seen the best of times and worst of times. Prior to this economic disaster, the only serious recession in those 23 years was in 1991-1992. At that time, myself and many others in similar situations faced economic turmoil. However, nothing comes close to what is happening now in what used to be the greatest State in the union.

According to the most recent reports, the unemployment rate in California has reached 12.2%. The rate in Los Angeles County is at 12.7%. Some cities within the county such as Compton and Commerce are over 20%. These are all far worse than the national rate of 9.8%.
What makes these numbers even scarier is that they have not hit rock bottom according to economic estimates at both the state and federal level. In fact, the State Government estimate of a maximum unemployment rate of 12.8% seems like it is going to be topped shortly, probably by early winter. Is it possible that California’s unemployment rate will top the number in 1940 of 14.7% which is the highest recorded on record? (more…)




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