Are they still paying unemployment in Cali? I thought the state was handing out IOUs for just about every liability.

CA did hand out IOUs to its creditors/suppliers.  I heard that CA was going to hand out IOUs for state tax refunds, but I got a check.  It was more a threat (one of many during the budget negotiations).   

People have exausted all benefits and another surge of defaulted fixed/30 year mortgages are hitting the market this week.  A second surge is exptect in November.  Without a job (unemployement rate 12%, Bay area higher than that), and an under water mortgage, many folks are just walking away and leaving the state.  They can't hang on for ever.

The state is now closing ?% of it's national parks, shortening the school year, etc.  The drastic budget cuts will probably drive out those who tend to live off social programs, sending them to other states as well. 

Its pretty bad.  But CA always gets hit 35% harder during a recession, and it took 1.5 years longer for CA to come out of the last recession.  The Bay Area had 11.4% unemployement in the last recession also.

Oldog new trics,

Is it an issue with the prospective employers when you have a gap in your resume.I quit because of the fraud in my company. I cannot comment about the fraud with my prospective employers.

I am looking forward for my jobsearch.Most likely January/February2010.I am trying hard to get my license by then.

I'll be honest, I lie.  I have a great releationship with my old boss, who keeps pulling me into start ups in one way or another.  When I have a gap (like the last recession, I didn't work for 2 years), he covers for me on my resume.  I just say I worked for him under another start up and keep the last job 'open' till present.  Or, I have a friend be my last employer under a ficticious company name.  I eliminate the gap - or at least the gap until the last 4-6 months.

Another way to deal with it is to tell a prospective employer you planned for this all along.  You had finacially prepared (saved, finished school, got extra acctg classes in, etc.) for the time that you would quit your job and sit for the exams.  Because the CPA credentials are so important to your career, yada, yada, yada.  The company you were working for was under severe financial strain, so now seemed like the best time to implement your 'Project CPA' plan.  And you show you passed (was focused and used the time well).  For some reason, showing that you have a gap because you planned it that way changes their perceptions on you being jobless.  Its not because you lack skills and no one wanted to hire you, its because you took control of your career and were focused on building your credentials.  Look for ways to put a spin on it.

Thank you very much for your response.

I think the second option is better than the first one . It is true and lot of career minded people really go back to school atleast once in their career. It is very difficult when I lie, because everytime I have to cover it up.

A fictitious company and a fictitious job is not 100% safe. Lot of companies check your credit history and it will show there.

Thank you once again.