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Report: Highest job cuts in Calif.

March 11, 2009 12:11:52 PM PDT
The Labor Department released new figures on Wednesday, breaking down the jobless numbers by individual states. California has the dubious honor of the largest number of job cuts.Nearly 80,000 pink slips were handed out to California workers in January alone.

California's unemployment rate jumped to 10.1 percent in January from 8.7 percent in December.

Jobs have disappeared in construction, finance and retail.

California was one of four states including South Carolina, Michigan and Rhode Island to register unemployment rates above 10 percent in January.

Some economists are predicting the rest of the nation will catch up by the end of the year, and unemployment will peak at 11 percent or higher by mid 2010.


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