ECONOMY: Jobless rate foreseen peaking at 12 percent, in double digits for three year

http://www.nctimes.com/articles/2009/03/26/business/z2c1339b6be77edf48825758400053da6.txt


California's economy will probably continue to ebb until late this year, and growth's return next year will not be soon enough or strong enough to keep unemployment from rising to nearly 12 percent, a team of economists said in a forecast this week.

The quarterly assessment released Wednesday by the UCLA Anderson Forecast noted what it said were the earliest signs of an economic turnaround, but argued that full recovery would take a couple of years.

I can see this happening sad to say. I was looking for a warehouseman/driver for where I work I have seen a lot of people hurting looking for any kind of work. It is very sad. I had one guy say he was losing his house already, and was practically living on the street right now. It is hard to hear that for last week when they come in to put there applications in.

 

It is so bad I had a gentlemen I worked with and had to fire 7 years ago because he pushed me down at work. We talked today as he is looking for work. No hard feelings, just told him I didn't want to end the way it did. He was looking for a truck driver job, applied at my work, and had been out of work close to a year. We talked and shook hands.