California Is Stuck in 1st Gear

Wall Street Journal

"In April, the last month for which state data are available, California nonfarm employment fell 2.5% from a year earlier, compared with a 1.1% national drop, as the state lost a higher percentage of jobs in the recession and has added a smaller percentage this year. The state's 12.6% jobless rate far exceeded the 9.9% U.S. rate in April, as reported by the Labor Department"

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