California's unemployment highest since 1976

California's unemployment rate has soared to its highest level in more than 30 years in March, climbing to 11.2 percent as 62,100 jobs vanish. California's unemployment rate reached 11.2 percent in March with 62,100 job cuts, the highest rate on record. The figures contrasted with a national jobless rate of 8.5 percent in March. The new jobless figures are the highest since records first began to be released in 1976. Over the last 12 months, California has seen 637,400 job cuts and the state has lost 727,700 jobs since the peak in July 2007. For the past year, California suffered a 4.2 percent decline in job levels compared to the nation's 3.5 percent loss. California's higher rate of job losses is primarily the result of a greater exposure to the housing downturn and related job losses in construction and finance. California's unemployment rate at 11.2 percent is the fourth highest in the US behind Michigan, Oregon and South Carolina. There are now eight states with unemployment rates of 10 percent and more.