Whichever UC unemployment prediction you buy, both are pretty damn grim.
California's unemployment rate will soar to between 12 percent and 15 percent by next spring and remain in the double digits until at least the beginning of 2012, according to forecasts released by two teams of University of California economists.
The state's unemployment rate has not reached those heights since the Great Depression.
The projections – one released today by UCLA's Anderson Forecast, the other last week by UC Santa Barbara's Economic Forecast – paint a grim picture of declining economic growth, lower retail sales, a troubled housing market and falling office prices lasting through much of 2010 ...
I don't know which dire prognostication up above is more accurate, but since California had one of the largest real estate bubbles .... and steepest real estate crashes, these high unemployment numbers are not real surprising.
On the micro and anecdotal level, I've noticed the grimness seeping into the animation studios. Everybody knows it's rugged out there in unemployment land, and behaving accordingly.
Even as employers lower salaries and tighten schedules, employees are keeping a stiff upper lip.