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15 years ago

The final chart of the three,
The final chart of the three, correlated to the article headline, is by far the most worrisome. Here we are twelve months into a recession, and the unemployment number is accelerating upward.

I hope I am not the only one that concludes this ends badly.

The only optimistic note I think I can strike is that area unemployment is still lower than the state average.

15 years ago
Reply to  Fearful

After seeing that third
After seeing that third graph, I may change my username to “Fearful” also.

15 years ago
Reply to  sdduuuude

Well, let’s
Well, let’s see…unemployment soaring to record levels, 20% of all mortgages upside down and 12% of all mortgages slipping into non-performing status. I would say that by about Sept 2009, there’s going to be a very different world than the one we’ve all been bantering about on this site for the last couple of years.

15 years ago

We haven’t passed the 1990s
We haven’t passed the 1990s unemployment peak yet….

Looks like Sacramento beat out San Diego for this ignominious milestone (10.4% in Jan 2009 v. 9.3% in Feb 1993).

15 years ago

The huge housing bubble
The huge housing bubble bursting must have contributed to see this faster increase in job loss seen in the last graph… my 2 cents. I wasn’t here in 1990s but I was told that the bubble then was not half as bad…

La Jolla Renter
15 years ago
Reply to  Scarlett

The housing bubble was not as
The housing bubble was not as bad in the 90’s because the terms:

liar loan
neg am
0 down
125% LTV
5% 30yr fixed

did not exist.

15 years ago

What about “balloon
What about “balloon payment”?

15 years ago

I remember all of the housing
I remember all of the housing bulls saying that a 90s-style bust could never happen in San Diego because our unemployment would never get that high. They always said that in the 90s we depended on defense jobs but now we are more diversified.

I would like to laugh at this but unfortunately I might be the next to lose my job!

If only we had listened to Ross Perot — “We don’t hafta NAFTA!” maybe there would be more jobs here still…