California_Economy

California Economy California's Unemployment Crisis According to statistics compiled by the U.S. government and mined by BridgePath (http://www.bridgepath.com), California has a far higher unemployment rate than most of the country (see chart). While areas like the Silicon Valley continue to flourish, much of the nation's most populous state still remains in recession. In fact, only four other states have a higher unemployment rate for 1997 than California (two of them being Hawaii and Alaska -- states with traditionally high unemployment). California's 6.3% overall 1997 unemployment rate is almost a point and a half greater than the national rate of 4.9%. That rate ranks California fifth worse in the country -- though it is an improvement over 1996 (where the state was plagued with 7.2% unemployment). The BridgePath analysis suggests that two Californias may exist. Regions like Modesto (13.4%), Fresno (12.5%), Bakersfield (11.4%), and Stockton (10.8%) are experiencing double-digit unemployment like many European countries. Even Los Angeles has 7.0% unemployment. These alarming numbers are offset by regions like the San Francisco Bay Area, unemployment, rate, san, california's, 1997, two, though, states, state, regions, orange, new, much, lowest, far, even, county, country, california, bay, bakersfield, around, areas, area, worse, world, workforce, while, cities, while, where, vermont to, valley, universities, that, unique, unemployment, economies, training, traditionally, today's, all, technology, surprising, suggests, stockton statistics, state's, spur, springing, split