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Published on: 2/14/2009
Last Visited: 2/14/2009
California's December jobless rate marked a 14-year high for the state and was significantly higher than the month's national average of 7.2 percent, underscoring a surge in job losses over the last three months of 2008, said Patti Roberts, a spokeswoman for the state's Employment Development Department.
California has for some time been contending with one of the worst housing markets in the nation, with some areas posting some of the nation's highest foreclosure rates, and its effects have spilled over into the state's broader economy.
Sharply lower consumer spending in recent months has worsened those effects, forcing layoffs across industries, Roberts said.
"We're starting to see a big impact in durable goods manufacturing, in trade, wholesale and retail, and now leisure and hospitality, which is restaurants and hotels," Roberts said.