California unemployment hits 5-year high as job losses mount across key industries
• California's unemployment rate remains stubbornly high at 5.1% in December, up from 4.1% a year earlier • Key parts of the economy like tech, Hollywood, and rural areas have seen significant job losses recently • California's economy has historically outpaced most countries, but has slowed significantly in the past year • Only Nevada had a higher unemployment rate than California at 5.3% as of December • The national unemployment rate was lower at 3.7% in December and rose slightly to 3.9% in February