January Unemployment Shoots to 10.1% in California

Preliminary January numbers have been released, and they are simply ugly. Unemployment has rocketed to double digit territory at 10.1%, seasonally adjusted.

That number is up from 8.7% in December of 2008, 8.3% in November of 2008, and 6.1% in January of 2008. The current number represents a 73% jump year-over-year!

National unemployment numbers were also dismal. January came in at 7.6%, up from 7.2% last month and 4.9% in January 2008. Unemployment nationally jumped 55% year-over-year.

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