Monday, March 23, 2009

More Signs of a Depression?

By Robert Gammon
Mon, Mar 23, 2009 at 10:30 AM

The bad economic news just keeps coming. The latest? California's jobless rate jumped to 10.5 percent last month, as the state economy shed 116,000 more jobs. According to the Chron, it's the state's highest unemployment rate since the painful 1982-83 recession. About 4,000 jobs were lost in the East Bay in February, according to the Contra Costa Times. And experts say it's going to get worse, because the underlying housing crisis is a long way from being over. "The downturn still has a way to go," economist Jon Haveman told the CC Times. "The housing market still has a couple of more problems in its cylinders."

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