October unemployment numbers were released last week and there appears to be very minor improvements. The third quarter results pointed to a slight recovery in the works, perhaps attributed to the change in the shopping season approaching Christmas.
When we view the chart from California for seasonally adjusted unemployment numbers we see a recent plateau:
The drop is exceptionally slow, at this rate the statewide unemployment rate will be in the neighborhood of 10% by Fall 2012.
How does California stack up with the rest of the country? When compared to other major stats (by population) NY and Texas, there same trends of brief increase in August coupled with Sept-Oct declines can be observed. The decrease in California is, however, more pronounced in the past two months (although in this graph you can't really observe the difference since it is in actuality quite small when compared to the previous year trends, but relevant when we focus to the past 3 months.)
Data compiled by San Diego Bankruptcy Lawyers from RAND California.