Saturday, January 10, 2009

Most of nonfarm jobs lost in CA are housing related

In the year ending in November, 71 percent of the nonfarm jobs lost in California were housing-related.

Many of the nation's leading mortgage lenders -- Countrywide Financial, New Century Financial, IndyMac Bancorp, and Fremont General Corp. -- were based in California and have since been bought by larger banks or gone bankrupt.

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