California's unemployment rate hit 11.2 percent in March, the highest rate in modern records, as the construction, manufacturing and banking industries continued to shed jobs, the state employment agency said Friday.The state's unemployment rate grew from 10.6 percent in February and is nearly 5 points higher than in March 2008, the Employment Development Department reported.U.S. Bureau of Labor Statistics figures show it is a historic high. The bureau said only three states - Michigan, Oregon and South Carolina - had higher rates in March.http://www.ktla.com/landing_news/?CA-Unemployment-Rate-Jumps-to-112-Percen=1&blockID=269071&feedID=171