Academic

Ouch! California Jobless Rate Hits 10.5%; Home Values Down 40% In One Year

By Dan Filler

The unemployment rate in the nation's largest state soared .4% in a month, hitting an excrutiating 10.5% for February.  It's the highest jobless rate there since 1983, and the job loss in February was the steepest in 19 years.  Coupled with the Golden State's real estate collapse - the median home price in California dropped a stunning 40% in the last year - things have gotten quite nasty out West.  On the other hand, there's never been a better time to sell your Dallas mansion and move to San Francisco!  (If you're stuck with Barack Obama anyway, why not go the whole nine yards with Gavin Newsom?)

Full post as published by The Faculty Lounge on March 20, 2009 (boomark / email).