March 24, 2009

Forecast: California unemployment will hit 12 percent

Filed under: California,US — DF @ 3:41 pm

California’s unemployment rate will peak at just over 12 percent late this year, according to a forecast by the UoP. Currently, unemployment statewide stands at 10.5 percent.

Source: University of the Pacific,  Sac Bee


  1. More disturbingly, the same forecast had the 12 percent projected California unemployment rate is less of a peak than a plateau. The forecaster, Jeff Michael, doesn’t foresee in the rate until “late 2011”. If his forecast is correct, the 12% jobless rate will burden California for at least two full years.

    Comment by Jobseeker — March 24, 2009 @ 5:41 pm | Reply

  2. Those numbers are really scary, 12 percent is not a joke. The real number is probably much higher, as many of those that lost their jobs have to leave the country (foreigner) or voluntarily move to a cheaper state.

    Comment by myphotoscout — March 25, 2009 @ 5:26 am | Reply

  3. As a rule, you can DOUBLE the stated number and be far closer to the truth.

    Comment by NYFB — March 25, 2009 @ 4:32 pm | Reply

  4. NYFB, I suspect you’re right. Just today in California the governor turned the Sacramento fairgrounds into a homeless camp for the unemployed to set up tents in.

    Comment by Jobseeker — March 25, 2009 @ 8:31 pm | Reply

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