The Jobs Situation in California Continues to get worse

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As unemployment in California hovers well north of 10% for the second straight month things don't look to be getting any better.

As you can see in the chart, during the last year California's unemployment rate has jumped from 5.7% in February 2008 to 10.5% in February 2009. The unemployment figure for California in March 2009 will be released in a few weeks, but since the U.S.'s unemployment rate jumped by 0.4% in March vs. February, you can certainly speculate that California will probably see an increase of 0.5% in the month bringing its March unemployment rate to around 11%!