Sunday, June 21, 2009

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The State of California reported that things got worse in May 2009 as the unemployment rate for the Golden State jumped to 11.5%.

This is the highest rate of unemployment since records began being kept over 30 years ago---And there are currently over 430,000 Californians who have been without a job for over 6 months... California is ground zero of a negative feedback loop where property prices are falling, causing more people to lose their jobs, cause more people to lose their homes.

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