Here are some facts that I researched in the internet about the glut:
Some states are afflicted with a worse glut of nurses than others. More than four out of ten (43 percent) of California nurses, who were newly licensed as registered nurses in the previous 18 months, say they could not find a job, according to a recent survey paid for by the California Institute for Nursing & Health Care (CVBT, 2012).
(December 2011) California has spent at least $95 million in federal, state and private funds in the past decade to double the number of nursing graduates by expanding college programs and grants. As recently as three years ago in 2008, hospitals were offering moving expenses, housing allowances and signing bonuses to recent graduates of nursing schools.
Read more here: http://www.sacbee.com/2011/12/04/4097980/new-california-nursing-graduates.html#ixzz1faQeUaWd#storylink=cpy