July numbers have been released for the nation, and we decided to show California and how their unemployment numbers faired in the past 4 years.
Graphically we can get a sense of the issue--there just doesn't seem to be any light at the end of the unemployment tunnel. July's number has similarities to early 2010, around the trough of the last recession. When the nation's largest state isn't showing trends of improvement one has to worry that the indicators are pointing to another economic downturn. Although employment numbers won't be predictive of the economy (rather they are descriptive of what's going on) they still provide insight on the plight of the economy. Those without jobs are still without jobs, and most do not have benefits, and those who are lucky to have a job are finding themselves on the brink of layoffs.
With notes from San Diego Bankruptcy Attorney, Cecilia Chen, and data from RAND.