What is that they say about CA? What happens there spreads across the country? If that's the case, we are no where near the end of the Bu$hCo's Economic Depression.
"The unemployment rate hasn't peaked yet," said Jed Kolko, associate director of research at the Public Policy Institute of California. "It's likely to still get higher, and stay high for several more quarters."
Although California's jobless rate is expected to begin receding next year, some economists predict that the state may be saddled with double-digit unemployment until late 2011 or longer, in part because of continued weakness in housing and construction.
"The sand is leaking from the hourglass."