Ouch! California Jobless Rate Hits 10.5%; Home Values Down 40% In One Year

The unemployment rate in the nation's largest state soared .4% in a month, hitting an excrutiating 10.5% for February.  It's the highest jobless rate there since 1983, and the job loss in February was the steepest in 19 years.  Coupled with the Golden State's real estate collapse – the median home price in California dropped a stunning 40% in the last year – things have gotten quite nasty out West.  On the other hand, there's never been a better time to sell your Dallas mansion and move to San Francisco!  (If you're stuck with Barack Obama anyway, why not go the whole nine yards with Gavin Newsom?)