I'm happy to be the bearer of good news about the economy (as there's been so much doom and gloom in the past year). I was just reading LA Observed and saw that Los Angeles County's jobless rate for last month was 10.6 percent, which is down from 12.4 percent last year.
The lower numbers apparently come from the government's household survey (independent of its payroll survey). Experts have pointed out that the drop in LA's unemployment rate mirrors back a drop in the jobless rate in the US as a whole.
There's more to the story, with some discrepancies and virtual 'head-scratching' thrown into the mix, at the above LA Observed link.
Photo: Clerkenwell/Getty Images