California Job Losses Accelerated in January

California's unemployment rate rose to 10.1% in January. That's the highest jobless reading since the 1982 recession. Perhaps more importantly, it's 1.4 percentage points higher than December's reading of 8.7%. At that rate of increase, unemployment would reach 25% by the end of the year. Nobody is expecting job losses on that scale, but as long as jobs are being lost at the rates we've seen lately, the real estate market is likely to remain under serious pressure.