Calif. Jobless Rate Breaks Record

In some not-so-cheery Friday news, California's unemployment rate skyrocketed to 11.5 percent in May, making it "the highest in modern record-keeping," according to the U.S. Department of Labor. NBC Bay Area reports that "[a]lthough the federal agency reported that 48 states and the District of Columbia saw their unemployment rates rise in May, California's rate was substantially higher than the national rate of 9.4 percent for the month." Michigan, Oregon, Rhode Island, and South Carolina.are the only states with higher unemployment rates. (Again, this isn't fun for anyone.)