The Breakdown

Explaining Southern California's economy

San Bernardino is not having a very good week

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The Inland Empire city of San Bernardino declared bankruptcy last year. Now it's slogging through the Chapter 9 process, taking on CalPERS, the giant California pension fund, at the same time. 

Sound like enough to keep one struggling municipality busy? Not quite. Two new reports indicate that the city's problems run deeper than just being broke.

On Wednesday, the U.S. Labor Department reported that what it calls the Riverside-San Bernardino-Ontario "metropolitan area" had the highest unemployment rate of all large U.S. cities in December: 10.9 percent. That’s down from more than 12 percent in December 2011.

Meanwhile, real estate analytics firm RealtyTrac says the San Bernardino area had the second highest foreclosure rate in the U.S. last year: nearly 4 percent of homes there had a filing in 20-12.

The good news of course is that bankruptcy can give San Bernardino a fresh start. But the underlying economic problems will continue to fester.

Follow Matthew DeBord and the DeBord Report on Twitter. And ask Matt questions at Quora.

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