The above chart shows the unemployment rate for each Metropolitan Statistical Area (MSA) in California for the month of March 2009 (the latest local data). This chart shows the magnitude of the unemployment problem in California. A few observations:
1) Not a single MSA in California has an unemployment rate below the national average.
2) Two MSAs have an unemployment rate above 20%.
3) 12 of the 26 California MSAs have an unemployment rate above 15%.
4) 19 of the 26 California MSAs have an unemployment rate above 10%.
Remember these are offical unemployment numbers and understate the actual unemployment picture. When part-time workers for economic reasons, and individuals that have dropped out of the labor force (but still want a job) are added the offical unemployment rate increases significantly. I don’t have this data locally, but on a national basis when these individuals are added the unemployment rate approximately doubles. For more information on the real unemployment rate see my posts on the suffering index at: http://chartingtheeconomy.com/?cat=20.
Data Source:
Bureau of Labor Statistics
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